Biopharmaceutical firm Aptinyx (APTX:NSD) is experiencing a significant drop in Aptinyx stock price today after reporting unsatisfactory results from a Phase 2 clinical trial of NYX-458, a drug intended to treat cognitive impairment related to Parkinson’s disease and dementia.
According to the company’s announcement, NYX-458 did not exhibit clinically meaningful improvements compared to the placebo, which means that the drug will not be further developed.
To protect its capital, Aptinyx has announced its plans to implement cost-cutting measures and explore strategic alternatives. As a result, the company has also decided to halt the Phase 2b trial of NYX-783, a drug for post-traumatic stress disorder (PTSD).
Aptinyx stock has been struggling, plummeting over 80% in the past year. In today’s pre-market session, the shares are down an additional 64%, which highlights the magnitude of the market’s disappointment with the latest developments.
In conclusion, the underwhelming Phase 2 results of NYX-458 and the ensuing strategic shift are significant setbacks for Aptinyx, which may require the company to re-evaluate its priorities and chart a new path forward.
Aptinyx Stock Price Analysis:
Aptinyx Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel, proprietary, and synthetic small molecules for the treatment of brain and nervous system disorders.
The company is developing NYX-2925, which is in Phase II clinical development for the treatment of painful diabetic peripheral neuropathy, as well as in Phase II/b clinical trial for treating fibromyalgia. It is also developing NYX-783, an N-methyl-D-aspartate receptors (NMDAr) modulator that is in Phase II/b clinical trial to treat post-traumatic stress disorder; and NYX-458, an NMDAr modulator, which is in Phase II clinical study for the treatment of Parkinson’s disease cognitive impairment.
The company has a research collaboration agreement with Allergan plc. Aptinyx Inc. was incorporated in 2015 and is headquartered in Evanston, Illinois.