SVB Leerink cuts PT for Aptinyx over pain drug data, trial delay

Aptinyx

21/04/2022 12:12

** SVB Leerink cuts PT for Aptinyx Inc  APTX.O  to $4 from
$10 on uncertainty regarding future of company's pipeline assets
    ** Earlier this month, co's experimental drug to treat nerve
pain, NYX-2925, failed to meet the main goal of a mid-stage
study in patients with painful diabetic peripheral neuropathy
    ** Brokerage has removed the indication from its model, and
lowered the probability of success (POS) for NYX-2925 in
fibromyalgia indication to 30% from 35%
    ** Co has temporarily paused initiation of mid-stage study
of 150-mg dose of its experimental therapy, NYX-783, in patients
with post-traumatic stress disorder 
    ** Brokerage lowers POS NYX-783 in the indication to 25%
from 35% given the delay
    ** Up to last close, stock down ~60% in last 12 months

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))