MLND - Millendo Therapeutics shares drop after pulling plug on MLE-301 development

Based on an analysis of data from the ongoing Phase 1 study evaluating Millendo Therapeutics' ([[MLND]] -18.7%) MLE-301 for menopausal vasomotor symptoms, the board of directors have decided to discontinue further investment in this selective neurokinin 3 receptor antagonist candidate.While MLE-301 was generally well-tolerated, the data does not support moving forward with its development, the company said.To conserve cash, Millendo intends to review its operating costs and may plan for a reduction in its workforce in order to focus its resources on essential business activities.Millendo will continue working with SVB Leerink to assist in its ongoing strategic process.Last year in June, the company discontinued development of nevanimibe for congenital adrenal hyperplasia.

For further details see:

Millendo Therapeutics shares drop after pulling plug on MLE-301 development