ObsEva plunges on discontinuing fertility drug after trial failure

Obseva SA

07/11/2019 12:18

** U.S. shares of Switzerland-based women's drug developer
 OBSV.O  down ~31.3% at $5.50 premarket
    ** Stock one of top three percentage losers across
exchanges; set to open at lowest in ~2 years
    ** Co scraps pivotal trial of nolasiban, its experimental
oral drug aimed at boosting pregnancy chances following IVF,
after the drug failed to show effectiveness  urn:newsml:reuters.com:*:nGNE98DKLJ
    ** Says it will be exploring "potential repositioning" of
the product
    ** Nolasiban's development was central to OBSV's drug
development plans; co shifts focus to its experimental drugs
targeting heavy menstrual bleeding and preterm labor reduction
 urn:newsml:reuters.com:*:nL8N27N2KJ
    ** Co also reports a Q3 net loss that widened to $27.6 mln
from $18.6 mln last year
    ** Stock down 37.2% YTD as of Wednesday's close

 (Reporting by Ruhi Soni)
 ((Ruhi.Soni@thomsonreuters.com;))