(Reuters) -Acadia Pharmaceuticals said on Wednesday it will not proceed further with the development of its intranasal therapy to treat a rare genetic condition after it failed to meet the main goal in a late-stage trial.
The company’s shares were down 13% at $20.51 in premarket trading.
Acadia was testing an intranasal formulation of carbetocin, or ACP-101, as a potential treatment for hyperphagia, or feelings of intense and persistent hunger, in patients with a genetic disorder called Prader-Willi syndrome.
“Given these results, we do not intend to investigate intranasal carbetocin any further,” Elizabeth Thompson, Acadia’s head of research and development said.
ACP-101 did not show a statistically significant improvement over placebo on the study’s main goal that measured changes in hyperphagia in patients. The therapy also did not meet any of the secondary goals, the company said.
A 12-week study was evaluating the efficacy and safety of a 3.2 milligram dose of ACP-101, when taken thrice daily in 175 children and adults with Prader-Willi syndrome aged between five to 30.
The debilitating condition, which affects about 50,000 people in the U.S., impacts everyday aspects of life, such as eating, behavior and mood.
The safety and tolerability of intranasal carbetocin was consistent with previous clinical trials, showing a low rate of adverse events, Acadia said.
(Reporting by Sneha S K in Bengaluru; Editing by Sahal Muhammed and Shailesh Kuber)
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