LONDON (Alliance News) - Diurnal Group PLC said Wednesday it decided to put all US development activities for its Chronocort product on hold, after it failed to meet its primary objective in its phase-three European trial.
Shares in the pharmaceutical company were trading 8.4% lower at 38.0 pence each as a result of the news.
The company said that it has undertaken further analysis of the clinical trial data, but while the dataset from the European trials is analysed, and "until the implications for the use of the product in the treatment of congenital adrenal hyperplasia are understood", Diurnal decided put on hold all activities relating to the US development of Chronocort.
Chronocort is intended to treat congenital adrenal hyperplasia, an orphan condition in which patients have a block in cortisol production. This lack of cortisol causes the over-production of male hormones, and can lead to infertility and increased mortality.
