CYTK shares dropped on news that the company’s amyotrophic lateral sclerosis (ALS) drug, tirasemtiv, did not achieve its primary objective in a mid-stage clinical trial. Tirasemtiv only showed mixed success in a secondary efficacy analysis. The U.S. Food and Drug Administration had given the CYTK drug orphan drug and fast-track status. Full results of the trial will be revealed next week, the Wall Street Journal notes.
Cytokinetics CEO indicated that CYTK would subject tirasemtiv “significant” examination to “determine whether there is a potential development path forward for tirasemtiv for the potential treatment of ALS and what may be the appropriate next steps.”
ALS, commonly known as “Lou Gehrig’s disease,” is neurodegenerative disease that causes rapidly progressing muscle atrophy and spasms. People suffering from the disease eventually lose voluntary muscle control. Roughly 25,000 Americans have ALS.
CYTK stock closed at $12.99 per share on Thursday.
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