MiMedx plunges after two movement disorder trials fail to meet main goals

MiMedx

13/09/2021 18:35

** Shares of drug developer  MDXG.O  fall 56.3% to $6.78
    ** Co says two late-stage trials testing its treatment
candidate in musculoskeletal conditions, or disorders that
affect human body's movement, did not meet their respective main
goals
    ** Trials conducted in patients with Knee Osteoarthritis and
Plantar Fasciitis 
    ** Plantar Fasciitis is inflammation of band of tissue that
connects heel bone to toes while Knee Osteoarthritis is a
degenerative joint disease
    ** Interim analysis of 446 patients enrolled in Knee
Osteoarthritis trial showed it did not meet its two main goals
of statistically significant change in pain levels
    ** Co is planning to advance confirmatory efficacy studies
for the indication
    ** For Plantar Fasciitis, co plans on complete review of the
full study data but said it will not pursue marketing
application for the indication


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