(Reuters) – Corcept Therapeutics said on Wednesday its experimental drug failed to meet the main goal of a mid-stage trial in patients with amyotrophic lateral sclerosis (ALS), a fatal neurodegenerative disease.
Shares of the company fell 4.63% to $57.30 after the bell.
The main goal of the study was to slow the decline in motor skills and other functional criteria, compared to a placebo, as measured by a scale.
The mid-stage trial enrolled 249 patients who received either the placebo or a dosage of 150 milligrams or 300 milligrams of the drug dazucorilant daily for 24 weeks.
Patients who received dazucorilant experienced substantially more gastrointestinal upset at the onset of treatment than those who received the placebo, the company said.
It also added that five deaths were observed in the placebo group, compared to no deaths in patients receiving the 300 mg dose of the drug.
ALS is a fatal degenerative neurologic disorder that affects more than 55,000 people in the United States and Europe, according to the company.
The disease can affect nerve cells in the brain and spinal cord that are responsible for muscle movements, leading to progressive paralysis and death.
Japanese firm Mitsubishi Tanabe’s Radicava, generic drug riluzole, and Biogen’s Qalsody are some of the FDA approved ALS treatments available in the U.S.
Complete results from the study will be presented at a medical conference next year, Corcept said.
The company added that an open-label, long-term extension study will continue and overall survival will be assessed in March 2025 after all patients have completed a year since the onset of treatment.
(Reporting by Sriparna Roy in Bengaluru; Editing by Pooja Desai)
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