Acer Therapeutics falls as drug for hot flashes fails study

Acer Therapeutics

17/03/2023 14:30

(Updates)
    ** Shares of Acer Therapeutics Inc  ACER.O  drop 41.5% to
$0.90 - the biggest one-day pct. loss in nearly 4 years 
    ** Co says its experimental drug, ACER-801, did not achieve
statistical significance in decreasing the frequency or severity
of hot flashes in post-menopausal women in a mid-stage study 
    ** Says pausing the ACER-801 program until it conducts a
thorough review of full data set - company  
    ** ACER acquired global licensing rights to the drug from 
Sanofi SA  SASY.PA  in 2018
    ** As of last close, ACER was down ~38% in the past three
months 

 (Reporting by Raghav Mahobe and Khushi Mandowara in Bengaluru)
 ((Raghav.Mahobe@thomsonreuters.com;))