Aptinyx stock soars on positive Phase 2 results for its fibromyalgia treatment, June 10, 2019

Source: Proactive Investors

Date: June 10, 2019

Author: Andrew Kessel <andrew.kessel@proactiveinvestors.com>

URL:
https://www.proactiveinvestors.com/...ts-for-its-fibromyalgia-treatment-221797.html

Aptinyx stock soars on positive Phase 2 results for its fibromyalgia treatment
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The company's drug led to a significant impact on brain activity associated with processing pain in patients with fibromyalgia

Aptinyx Inc (NASDAQ:APTX) stock climbed after the company announced positive results Monday from a Phase 2 study of its fibromyalgia treatment. In a 23-patient study, the company's NYX-2925 drug led to a significant impact on brain activity associated with processing pain in patients with fibromyalgia. Patients also self-reported lower pain scores and improved on other fibromyalgia symptom scales. Shares jumped 12% to $3.40 Wednesday afternoon.

Based on the results, the Evanston, Illinois-based company will begin a larger 12-week study later in 2019.

Fibromyalgia is a chronic pain condition that affects the central nervous system. NYX-2925 is also used to treat Diabetic Peripheral Neuropathy, nerve damage associated with high blood sugar and diabetes.

The drug earned Fast Track designation for treatment from DPN from the Food and Drug Administration.

'The statistically significant effects on both pain-related brain activity and patient-reported clinical measures elegantly demonstrates that NYX-2925 is acting in the brain to alter pain processing, leading to pain alleviation,' CEO Norbert Riedel said. 'The consistency of these
data confirms our confidence in advancing NYX-2925 as a treatment for chronic pain. We look forward to initiating follow-up studies in both painful DPN and fibromyalgia later this year.'

 

Remember wall street 101: Buy on rumor, sell on fact. 12% is a small move for a stock like this.

Also, realise that their shares were worth at their peak, $32.25 last September..

 

Yeah, I've got my eye on this drug development for fibro. But who knows. Phase II is just a small human sample trying to get the dosage right.

The company is seeking money (I think) for the huge cost of a multi-center Phase III trial. Fingers crossed.

 

A bit more detail about Aptinyx
https://ir.aptinyx.com/news-release...positive-top-line-data-phase-2-study-nyx-2925

 

Sounds like this is a pain killer and not a disease modifying drug. Not that that is a bad thing but it does not get us any closer to understanding the disease mechanism.

 

Hemispherx issues press releases every day to boost curiosity of investors. It seems to me that this company is doing just that. A 23 patient study which likely (did not read any scientific literature) did not use objective end points or biomarkers means very little in terms of effectiveness of a product.