APTX - Aptinyx sheds 54% as Phase 2 trial for Parkinson's disease and dementia fails
- Clinical-stage biotech Aptinyx Inc ( NASDAQ: APTX ) lost ~54% pre-market Tuesday after announcing a setback for its Phase 2 trial for NYX-458 in patients with cognitive impairment linked to Parkinson’s disease and dementia with Lewy bodies.
- The company said that regarding the study’s efficacy endpoints, NYX-458 didn’t lead to clinically meaningful improvements compared to the placebo in study subjects, and the results do not back further development of the candidate.
- Following the readout, Aptinyx ( APTX ) has also decided to end the ongoing Phase 2b study for NYX-783 in post-traumatic stress disorder (PTSD) and evaluate its available data to determine the next steps for the program.
- In addition, the company will implement cost-cutting initiatives and look for strategic alternatives “to support the advancement of our NMDA receptor modulation platform,” Chief Executive Andy Kidd said.
- Read: Seeking Alpha contributor E. Roudasev wrote last week that the readout for NYX-458 “may be a binary event given the company’s current market cap.”
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Aptinyx sheds 54% as Phase 2 trial for Parkinson's disease and dementia fails