Stocks Tumble On Tetraphase, Flexion Failures; Surge On Akebia Win
This article was originally published in Scrip
Executive Summary
Antibiotic developer Tetraphase Pharmaceuticals Inc. and arthritis pain drug maker Flexion Therapeutics Inc. were battered in after-hours trading on Sept. 8 after the companies said their lead drug candidates failed to reach statistical significance in late-stage clinical trials, but investors rewarded Akebia Therapeutics Inc. for positive mid-stage results for its anemia drug after the stock market closed.
You may also be interested in...
Tetraphase Bets On I.V. Eravacycline Rerun As Antibiotic Market Influx Looms
Tetraphase has been keeping its head down since a 2015 Phase III trial failure for its lead antibiotic drug eravacycline sliced around $1.3bn from the company's market cap – but 2017 will be a turnaround year, says CEO Guy Macdonald.
Sage’s Dalzanemdor Prospects In Doubt After First Mid-Stage Readout
Dalzanemdor (SAGE-718) showed no difference from placebo in a Phase II Parkinson’s disease study, raising concerns about readouts later this year in Huntington’s and Alzheimer’s diseases.
First Phase III Depression Data For Intra-Cellular’s Caplyta Exceed Expectations
With positive results from the first Phase III trial of lumateperone in major depressive disorder and a second readout expected later this quarter, the company plans a supplemental filing in late 2024.