e-Therapeutics' ETS610 misses targets, shares tank

UK drug discovery firm e-Therapeutics (AIM: ETX) yesterday reported disappointing top-line results for its Phase IIb trial of ETS6103 in major depressive disorder, evaluating its antidepressant activity and tolerance profile, showing the drug was less effective than tricyclic alternatives.

The company’s plunged 38% to 16.00 pence on the news, making it one of the worst performers in the AIM All-Share early Monday, but recovered later to be down just 1.9% at 21.10 pence in early trading today.

The trial evaluated dosing of ETS6103 as a potential second-line therapy for patients with major depressive disorder who do not respond satisfactorily or relapse when using the current first-line treatment, selective serotonin reuptake inhibitor (SSRI). The trial's aims were specially to determine whether ETS6103 is an antidepressant capable of treating the patients for whom SSRI treatment has not been successful, at a dose consistent with both improved compliance and a protectable position, with a more benign side effect and tolerance profile than a tricyclic, such as amitriptyline.  The earlier Phase IIa trial had shown a surprisingly strong efficacy position for ETS6103 with respect to amitriptyline, and the Phase IIb trial was structured as a non-inferiority study.