JAZZ - Jazz Pharma PTSD mid-stage trial fails to meet main goal stock slips after hours

2023-12-21 16:25:06 ET

Jazz Pharmaceuticals ( NASDAQ: JAZZ ) on Thursday said a mid-stage trial of its investigational therapy for the treatment of post-traumatic stress disorder (PTSD) failed to meet the main goal of the study, sending its shares falling as much as ~6% after hours.

JAZZ stock was last down 2.6% at $118.

The Ireland-based company said the phase two trial evaluating JZP150, a small molecule inhibitor, did not meet primary endpoint of the study.

"There was not a statistically significant decrease in total PTSD symptom severity as measured by the Clinician Administered PTSD Scale (CAPS-5) between JZP150 (4mg or 0.3mg) compared to placebo from baseline to week 12," Jazz ( JAZZ ) said in a statement .

The trial also did not meet the secondary goals of the study.

As a result, Jazz ( JAZZ ) said it does not expect to continue more development of JZP150 in PTSD.

"We recognize the significant unmet need for PTSD patients and plan to share the findings from this trial with the medical community at a future date," Rob Iannone, executive vice president and global head of research and development at the company said.

According to the National Institute of Mental Health, an estimated 3.6% of U.S. adults had PTSD in the past year.

Jazz ( JAZZ ) added that no new safety signal had been observed for JZP150.

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