Diurnal halts US development of Chronocort after European trials come up short

(Sharecast News) - Speciality pharmaceutical company Diurnal has put all development activities for its modified release hydrocortisone product on hold after it failed to meet its primary endpoint in a recent phase-three European trial.Diurnal told investors on Wednesday that it was in the process of undertaking further analysis of the Chronocort clinical trial data, but noted that while the dataset from the European trials was being looked at, it would be putting all US development work on pause.The AIM-listed firm said it would not be resuming activities "until the implications for the use of the product in the treatment of congenital adrenal hyperplasia are understood."Chief executive Martin Whitaker, said: "We remain positive that Chronocort will provide a valuable treatment option for patients with CAH and look forward to discussing our extensive data set with regulators.""In light of our observations regarding the European Phase III trial data, and the requirement to manage our costs carefully, we have taken the decision to put all Chronocort US development activity on hold, and to adjust our cost base accordingly."Chronocort is intended to treat congenital adrenal hyperplasia, an orphan condition in which patients are unable to produce cortisol, potentially leading to infertility and increased mortality.As of 1200 BST, Diurnal shares had slumped 6.63% to 38.75p.