Ovoca Bio shares plummet as female libido treatment trial fails
Ireland-headquartered Ovoca Bio (LSE: OVB) saw its shares plunge 82% to 2.50 pence yesterday, after it revealed disappointing results from a Phase II dose ranging study assessing orenetide conducted in Australia and New Zealand.
The study did not show statistically-significant superiority of orenetide versus placebo on the co-primary endpoints of (1) sexual desire, as measured by the Female Sexual Function Index (FSFI) desire domain, and (2) the degree to which a participant is bothered by low sexual desire, as measured by the Female Sexual Distress Scale (FSDS-DAO).
Other secondary efficacy endpoints were also shown not to have statistically-significant difference versus placebo. The safety profile of the orenetide observed in the Sstudy was consistent with its previously known safety profile, and no new safety signals were identified.
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