Satsuma: Slumps as migraine therapy late-stage study goals not met

Satsuma Pharmaceuticals

10/09/2020 14:04

** Drug developer's  STSA.O  shares plunge 82.86% to $4
premarket
    ** Company says topline data from late-stage study of its
migraine treatment, STS101, did not meet the two goals of
freedom from pain and the most bothersome symptoms, including
photophobia and nausea, two hours after administration
 urn:newsml:reuters.com:*:nGNXxs7mL
    ** Says data showed numerical differences in favor of two
dose strengths of STS101 versus placebo, but these differences
were not statistically significant 
    ** However, both dosage strengths demonstrated significant
effects on both goals by three hours after the dose and at later
time points - STSA
    ** Company expects to provide detailed update on business
plans after further analysis of the trial data 
    ** As of last close, STSA stock up ~18% YTD

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 80 6749 6132;))