20th Aug 2015 08:07
LONDON (Alliance News) - Vernalis PLC on Thursday said the results from its phase 2 proof-of-concept study for its fatty acid amid hydrolase inhibitor failed to meet its pain-reduction primary endpoint.
The study on its V158866 product, which is being investigated as a treatment for neuropathic pain as a result of a spinal cord injury, showed that while dosing with the drug resulted in elevated endocannaboid levels, it failed to meet its primary goals on pain reduction on an intent-to-treat basis.
Vernalis said it does not plan to make any further investment in the programme and will seek to realise any potential value the product has through partnering.
"The goal of this study was to identify a therapeutic setting for this programme. Its completion ends the investment in our NCE pipeline, and we aim to partner the remaining unpartnered programmes to realise value where possible," said Vernalis Chief Executive Ian Garland.
Shares in Vernalis were down 4.3% to 77.25 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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