Inhibikase slumps as FDA puts lead drug studies on hold

Inhibikase Therapeutics

07/11/2022 13:46

** Shares of drug developer Inhibikase Therapeutics  IKT.O 
decline ~20% to 62 cents before the bell 
    ** Co says U.S. Food and Drug Administration (FDA) informed
that it has issued a clinical hold on two studies involving
IKT's lead drug IkT-148009 
    ** IKT says FDA issued hold on the 201 study testing
IkT-148009 as a potential treatment for Parkinson's disease, a
brain disorder that causes shaking and difficulty with walking,
balance and coordination
    ** Adds that health regulator also issued hold for use of
its lead drug in trials testing it to treat multiple systems
atrophy, a rare disease that results in failure of autonomic
nervous system and causes impaired movement
    ** Co says have not seen any serious adverse events in the
ongoing 201 study 
    ** IKT says actively working with the FDA to understand the
agency's concerns and to resolve them as soon as possible
    ** As of last close, IKT down ~48% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))