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Organon Provides Update on Phase 2 ELENA Proof-of-Concept Study Evaluating OG-6219 in Patients with Endometriosis-Related Pain

1. Organon announced Phase 2 study for OG-6219 did not meet efficacy endpoints. 2. OG-6219 will be discontinued due to lack of improvement in endometriosis pain. 3. Company remains committed to women's health despite disappointing study results.

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Why Very Bearish?

The failure of OG-6219 is a significant setback, as failing to meet primary endpoints typically results in a loss of investor confidence and impacts future revenue projections. Historical context shows that similar failures in clinical trials lead to sharp declines in stock prices, notably observed with other biopharmaceutical companies post-adverse trial results.

How important is it?

The trial failure impacts OGN’s pipeline and investor outlook, suggesting immediate price volatility. This significance is amplified when considering recent investor interest in innovative therapies for women's health.

Why Short Term?

Immediate investor sentiment is likely to react negatively to this news, affecting OGN's stock quickly. Historical examples show substantial price drops in the days following negative clinical trial outcomes.

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PFEABBVAMGN
JERSEY CITY, N.J.--(BUSINESS WIRE)--Organon (NYSE: OGN), a global healthcare company with a focus on women’s health, today announced that the Phase 2 ELENA proof-of-concept study evaluating the investigational candidate OG-6219 in endometriosis-related pain did not meet its primary efficacy endpoint. OG-6219 is an oral 17β-hydroxysteroid dehydrogenase type 1 (HSD17B1) inhibitor, which Organon acquired through its acquisition of Forendo Pharma in 2021. In the study, OG-6219 did not demonstrate improvement in moderate-to-severe endometriosis-related overall pelvic pain compared to placebo. Based on these results, the company plans to discontinue the OG-6219 clinical development program. “While these study results are disappointing, Organon remains committed to our long-term vision to create a better and healthier every day for all women including those living with endometriosis,” said Juan Camilo Arjona Ferreira, M.D., Head of Research & Development and Chief Medical Officer at Organon. “We are grateful to all the patients, caregivers, and investigators for their participation in and support of this study.” The randomized, double-blind, placebo-controlled, parallel-group, global multi-center Phase 2a/b study (NCT05560646) aimed to evaluate the efficacy, safety, and tolerability of three dose levels of OG-6219 in pre-menopausal women 18 to 49 years of age who have been surgically diagnosed with endometriosis with moderate-to-severe endometriosis-related pain. Eligible patients were randomized to receive one of three doses of OG-6219 or placebo orally twice a day. The primary efficacy endpoint was the change from the baseline cycle (placebo run-in cycle) to the last planned treatment cycle (third month of treatment exposure), in the mean endometriosis-related overall pelvic pain score (measured using an eleven-point numerical rating scale). About Organon Organon (NYSE: OGN) is a global healthcare company with a mission to deliver impactful medicines and solutions for a healthier every day. With a portfolio of over 70 products across Women’s Health and General Medicines, which includes biosimilars, Organon focuses on addressing health needs that uniquely, disproportionately or differently affect women, while expanding access to essential treatments in over 140 markets. Headquartered in Jersey City, New Jersey, Organon is committed to advancing access, affordability, and innovation in healthcare. Learn more at www.organon.com and follow us on LinkedIn, Instagram, X, YouTube, TikTok and Facebook. Cautionary Note Regarding Forward-Looking Statements Except for historical information, this press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about Organon’s future business efforts and prospects. Forward-looking statements may be identified by words such as “plans”, “mission,” “vision,” “future,” “may,” “can,” “will,” “expects,” or words of similar meaning. These statements are based upon the current beliefs and expectations of Organon’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate, or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause results to differ materially from those described in the forward-looking statements can be found in Organon’s filings with the SEC, including Organon’s most recent Annual Report on Form 10-K and subsequent SEC filings, available at the SEC’s Internet site (www.sec.gov). More News From Organon & Co.

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