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Frespaciguat

Phase 2

Pulmonary Hypertension | Small molecule | Cardiovascular |Merck & Company, Inc.|Last Updated: May 1, 2026

Success Probability
Approval Probability 71%
TA Base Rate26%
Adjusted LOA41%
ML RiskLOW_RISK
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Market & Valuation
rNPV $3.2B
Market Size $9.4B
Revenue Basis $1.6B
Competitors 6
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Trial Design
RandomizedDouble-BlindPLACEBO_CONTROLLEDBiomarker
Total Trials2
Total Enrollment151
FDA Designations
No designations recorded
Clinical Trials (2)
NCT IDTitlePhaseStatusEnrollmentVelocityDesignStartCompletionLast UpdatedSitesCountries
NCT05612035Frespaciguat (MK-5475) INSIGNIA-PH-COPD: A Study of the Efficacy and Safety of Frespaciguat (an Inhaled sGC Stimulator) in Adults With PH-COPDPHASE2 ACTIVE NOT_RECRUITING 129Mar 16, 2023Oct 8, 2029May 1, 202685 United States, Argentina +17
NCT04370873Frespaciguat (MK-5475) in Participants With Pulmonary Hypertension Associated With Chronic Obstructive Pulmonary Disease (PH-COPD) (MK-5475-006)PHASE1 COMPLETED 22Jun 5, 2020Jan 12, 2022May 28, 20259 United States, Israel +1
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Study Endpoints
Primary Endpoints
Mean Change From Baseline in 6-minute Walk Distance (6MWD) at Week 24
Baseline and Week 24

6MWD is assessed using the 6-minute walk test (6MWT).

Percentage of Participants Who Experienced at Least 1 Adverse Event (AE)
Up to approximately 139 days

An AE is any untoward medical occurrence in a clinical study participant, temporally associated with the use of study intervention, whether or not considered related to the study intervention. An AE can therefore be any unfavorable and unintended sign (including an abnormal laboratory finding), symptom, or disease (new or exacerbated) temporally associated with the use of a study intervention. The percentage of participants who experienced an AE was assessed.

Percentage of Participants Who Discontinued Study Drug Due to an AE
Up to approximately 32 days

An AE is any untoward medical occurrence in a clinical study participant, temporally associated with the use of study intervention, whether or not considered related to the study intervention. An AE can therefore be any unfavorable and unintended sign (including an abnormal laboratory finding), symptom, or disease (new or exacerbated) temporally associated with the use of a study intervention. The number of participants who discontinued treatment due to an AE was assessed.

Percentage Change From Baseline to Day 28 in Pulmonary Vascular Resistance (PVR): Part 2
Baseline (between Day -5 and Day -1) and Day 28

PVR was calculated in participants after MK-5475 dosing at baseline and Day 28. Based on the variables obtained by right heart catheterization (RHC), the fold change from baseline individual PVR was calculated. The difference from baseline was assessed on the log scale and then back-transformed for reporting (percent change from baseline). Per protocol, this outcome measure was only assessed during the Part 2 and was not assessed during part 1.

Secondary Endpoints
Mean Change From Baseline in 6MWD at Week 12
Baseline and Week 12
Mean Change From Baseline in N-Terminal Pro B-Type Natriuretic Peptide (NT-proBNP) at Week 12
Baseline and Week 12
Mean Change From Baseline in NT-ProBNP at Week 24
Baseline and Week 24
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Study Design & Arms
AllocationRANDOMIZED
MaskingTRIPLE
ModelPARALLEL
PurposeTREATMENT
Treatment Arms
ArmTypeDescription
FrespaciguatEXPERIMENTALParticipants with PH-COPD will receive 380 µg of frespaciguat as an oral inhalation once daily for 24 weeks (base period) and thereafter for up to 42 months (optional extension period).
PlaceboPLACEBO_COMPARATORParticipants with PH-COPD will receive matching placebo as an oral inhalation once daily for 24 weeks (base period) and then 380 µg of frespaciguat as an oral inhalation once daily for up to 42 months (optional extension period).
Part 1: FrespaciguatEXPERIMENTALParticipants receive frespaciguat 360 μg once daily (QD) via inhalation from Days 1-7. Following review of pharmacokinetic (PK) and safety data, a second 7 days of dosing may be initiated. A dose of up to 360 μg up to twice a day may be administered based on PK data in these participants.
Part 1: PlaceboPLACEBO_COMPARATORParticipants receive placebo QD via inhalation from Days 1-7.
Part 2: FrespaciguatEXPERIMENTALParticipants receive frespaciguat 32 µg, 100 µg, 195 µg or 380 μg QD via inhalation from Days 1-28.
Part 2: PlaceboPLACEBO_COMPARATORParticipants receive placebo QD via inhalation from Days 1-28.
Interventions
NameTypeDescription
FrespaciguatDRUGFrespaciguat 380 µg administered as dry powder inhalation once daily.
PlaceboDRUGPlacebo administered as dry powder inhalation once daily.
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Eligibility Criteria
Age Range40 Years — 85 Years
SexALL
Healthy VolunteersNo
Study Sites85

The key inclusion and exclusion criteria include but are not limited to the following: Inclusion Criteria: * Has Group 3.1 pulmonary hypertension chronic obstructive pulmonary disease (PH-COPD) as defined by the Clinical Classification of Pulmonary Hypertension. * Has a right heart catheterization...

Countries:United StatesArgentinaAustraliaAustriaBelgiumColombiaFranceGermanyGuatemalaIsraelItalyMexicoPeruSouth AfricaSouth KoreaSpainSwitzerlandTurkey (Türkiye)United KingdomMoldova
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Recent Changes (Last 90 Days)
LOWMay 26, 2026NCT05612035Enrollment: 120 → 129
LOWMay 24, 2026NCT05612035studyFirstPostDate: changed