NVS - Cytokinetics Suffers Trial Setback But It Is Brushed Off By The Market
Cytokinetics (CYTK) announced results from its phase 2 study using its drug reldesemtiv to treat patients with amyotrophic lateral sclerosis ((ALS)). The trial failed to meet the primary endpoint of the study; however, the drug was able to perform slightly better than placebo. It seemed that was enough to entice investors, because the stock still managed to close higher on Monday. That means the biotech is still interested in advancing this product to a phase 3 study regardless. In addition, I believe the stock still traded higher because that wasn't the main program