Santhera: Hits 3-yr low after cancels development of Puldysa in DMD

Santhera Pharmaceuticals Holding AG

06/10/2020 09:08

(Adds share price move, re-writes throughout)
    ** Shares in Santhera  SANN.S  plunge 40% to a three-year
low after the Swiss pharmaceutical company cancels its phase-3
SIDEROS study with Puldysa  urn:newsml:reuters.com:*:nFWN2GW0Q6
    ** Puldysa (idebenone) is an experimental treatment for
respiratory symptoms caused by Duchenne muscular dystrophy (DMD)
    ** Santhera says data from an interim analysis conducted by
independent data and safety monitoring board concluded that
study was unlikely to meet its primary endpoint
    ** Credit Suisse says its take on the news is negative 
    ** Before the announcement the broker had upgraded the stock
to "neutral" from "underperform", partially driven by the early
completion of the SIDEROS trial recruitment
    ** CS had estimated potential launch of Puldysa in the U.S.
in Q4 2022 and increased its net present value of Puldysa to 169
million Swiss francs ($184.72 million) from 156 million Swiss
francs
   



($1 = 0.9148 Swiss francs)


($1 = 0.9149 Swiss francs)

 ((marta.frackowiak@thomsonreuters.com;
elizaveta.gladun@thomsonreuters.com))