Retrophin scraps nervous system disorder study, shares dive [Reuters]
RETROPHIN INC (RTRX)
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Source: Reuters
Retrophin scraps nervous system disorder study, shares dive - Reuters 2 Min Read (Reuters) - Retrophin Inc said on Thursday it was discontinuing the late-stage study for its rare neurological disorder treatment after it failed to improve patients’ ability to conduct daily activities such as eating and walking, sending shares down 30%. The treatment, fosmetpantotenate, was being tested against placebo in 84 patients with pantothenate kinase-associated neurodegeneration (PKAN), a rare, genetic and life-threatening disorder. “We have realized that this is a failed study with no difference to placebo,” Chief Executive Officer Eric Dube said. The latest setback for Retrophin comes after the company in June paid $30 million to settle all outstanding disputes with founder and former CEO Martin Shkreli, who was ousted in 2014 and later convicted for conspiring to manipulate Retrophin’s stock price. In May, Shkreli sued three former colleagues at Retrophin, saying they illegally ousted him. Sh
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