Aptinyx stock falls after NYX-2925 trial for treating painful diabetic nerve damage fails to meet endpoint
Shares in Aptinyx Inc (NASDAQ:APTX) tumbled Wednesday after the biotech disclosed that the Phase 2 study of its treatment for painful diabetic peripheral neuropathy (DPN), which is nerve damage caused by high blood sugar, did not meet its primary endpoint.
The Evanston, Illinois-based biotech’s therapy, did not show a significant difference in patients’ daily pain scores compared to placebo.
“This four-week proof-of-concept study of our novel NMDA receptor modulator, NYX-2925, in painful DPN was designed to evaluate a 20-fold dose range, determine whether efficacy and dose response could be observed on primary and secondary endpoints, and assess safety in a patient population,” said Aptinyx CEO Norbert Riedel. “While the study did not meet its primary endpoint, we observed improvements on multiple measures, differential activity across dose levels, and a very favorable safety profile.”
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The stock fell more than 73% to $4.78 in afternoon trade.
The company, however, said it is still conducting an exploratory Phase 2 study of NYX-2925 in patients with fibromyalgia or widespread muscle pain and tenderness. It said a full analysis of the data should be available in the first half of 2019.
The clinical-stage company develops therapies for disorders of the brain and nervous system. Allergan plc (NYSE:AGN) recently acquired its depression drug AGN-241751 for further development.
Contact Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/212725/aptinyx-stock-falls-after-nyx-2925-trial-for-treating-painful-diabetic-nerve-damage-fails-to-meet-endpoint-212725.html
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