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Flex Pharma to scrap two mid-stage neuromuscular disease trials


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June 13 (Reuters) - U.S. drug developer Flex Pharma Inc said on Wednesday it plans to stop two ongoing mid-stage trials, testing its lead drug to treat neuromuscular diseases, following safety concerns.

The company's shares fell 18.7 percent to $3.40 in premarket trading.

The drug, FLX-787, was being tested in trials to treat amyotrophic lateral sclerosis (ALS) and Charcot-Marie-Tooth disease, a rare neuromuscular disorder.

Based on the company's plans to stop the mid-stage trials, Flex would reduce its workforce by 60 percent. It had 20 full-time and two part-time employees as of March.

Flex now plans to shift the focus of its drug FLX-787 to treat dysphagia or difficulty in swallowing.




This article appears in: World Markets , Stocks , Technology
Referenced Symbols: FLKS



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