Intec Pharma decimated as Parkinson's candidate flops in Phase III
Israeli biotech firm Intec Pharma (Nasdaq: NTEC) saw its market capitalization plummet after it announced top-line data from the company's pivotal Phase III trial (the ACCORDANCE trial).
The study is evaluating the safety and efficacy of the Accordion Pill-Carbidopa/Levodopa (AP-CD/LD) compared with immediate release CD/LD (IR-CD/LD; Merck & Co's (NYSE: MRK) Sinemet [carbidopa-levodopa]) as a treatment for the symptoms of advanced Parkinson's disease (PD). The company announced that the ACCORDANCE study did not achieve statistical superiority to Sinemet on the primary endpoint of reduction in daily OFF time.
In pre-market trading on the Nasdaq, Intec Pharma's share price was down 79% at $0.63 this morning, after losing 24% in the past few days prior to publication of the results.
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