NVO - Aeterna falls 13% after halting U.S. sales of lead product
2023-04-05 08:48:13 ET
- The shares of nano-cap biotech Aeterna Zentaris ( NASDAQ: AEZS ) lost ~13% pre-market Wednesday after announcing a temporary halt to U.S. sales of its lead product Macrilen (macimorelin), effective May 23, 2023.
- The temporary move follows last year’s decision by Novo Nordisk ( NVO ), Aeterna’s ( AEZS ) commercial partner for Macrilen in North America, to end its licensing agreement for the product.
- Macrilen, known as Ghryvelin in the U.K. and Europe, is indicated for the diagnosis of adult growth hormone deficiency. The orally active small molecule is also undergoing a pivotal late-stage trial for the diagnosis of childhood-onset growth hormone deficiency.
- The company said that decision would not affect sales and commercialization of macimorelin in the U.K. and Europe, and the U.S. sales will resume when it can find another commercialization partner for a market re-launch.
- Macimorelin is designed to stimulate growth hormone secretion from the pituitary gland.
- Aeterna’s ( AEZS ) shares surged in March after the company announced the transfer of licensing rights for Ghryvelin to Pharmanovia from its previous licensee Consilient Health.
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Aeterna falls 13% after halting U.S. sales of lead product