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.”
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.
Contact Uttara Choudhury at [email protected]