Aptinyx hits all-time lows as brokerages disappointed by pain drug failure

Aptinyx

08/04/2022 13:21

** Drug developer's shares  APTX.O  fall 5% premarket to a
record low of $1.13, set to extend declines of ~50% from
Thursday after its nerve pain drug failed to meet goals in a
mid-stage study  urn:newsml:reuters.com:*:nL3N2W5345
    ** William Blair downgrades stock to "market perform", at
least two brokerages cut PT 
    ** The failure adds risk to co's Fibromyalgia trial -
William Blair 
    ** "We are humbly reminded of hazards of relying on post-hoc
data and remove NYX-2925 from our valuation" - Truist, more than
halves PT to $5
    ** Median PT is $6 - Refinitiv data
    ** Shares set to extend losses to a fourth straight session;
down 55% YTD  

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))