LONDON (Alliance News) - Shares in N4 Pharma PLC plunged early Monday as the company said that its sildenafil reformulation clinical trial has not met its key target endpoints.
Shares in the drug reformulation company were down 54% at 10.60 pence each.
The company said that the product formulation will need to be reviewed to assess what changed need to be made to make the reformulated drug viable to N4 Pharma's patent position.
"This part of the process of drug reformulation is always going to be a challenge and whilst this preliminary data is clearly disappointing, we will need to see the full set of results expected around the end of August to understand the detailed implications for the formulation. We will provide a further update once we have had a chance to review all the findings from the trial about the next steps we will take to reformulate the product," said Chief Executive Officer Nigel Theobald.
Sildenafil is a medication used to treat erectile dysfunction and pulmonary arterial hypertension.
N4 Pharma Plc (N4P)