(Reuters) – Acer Therapeutics Inc said it will pause the trial of its experimental drug to treat menopausal symptoms that failed to reduce the frequency or severity of hot flashes in post-menopausal women, sending its shares down over 40% before the bell.
The company said on Friday the drug, osanetant, was found to be safe and well-tolerated, meeting one of the key goals of the study, and it will review the trial data.
Osanetant is under development for treatment of patients with vasomotor symptoms or hot flashes associated with menopause, prostate cancer and post-traumatic stress disorder, the company said in a statement.
Acer acquired global licensing rights to the drug from French drugmaker Sanofi SA in 2018.
(Reporting by Mariam Sunny in Bengaluru; Editing by Shailesh Kuber and Shinjini Ganguli)
