ResMed falls after rival's sleep apnea drug succeeds in late-stage study

Shares of medical device maker ResMed RMD.N fall 3.8% to $244.56

RMD's rival Apnimed said late on Monday that its oral pill met the main goal in a late-stage study to treat obstructive sleep apnea

Apnimed's experimental drug, AD109, showed a mean reduction of 55.1% on a scale that measures mild, moderate and severe obstructive sleep apnea

Apnimed says the drug significantly improved oxygenation and reduced disease severity in patients

It plans to submit a marketing application to the U.S. FDA for the drug, AD109, by early 2026

ResMed makes continuous positive airway pressure machines (CPAP), which offer a non-invasive treatment option for sleep apnea characterized by brief interruptions of breathing during sleep

Including session's moves, RMD up 10.8% YTD