Aevi Genomic Medicine (NASDAQ: GNMX), which used to go by Medgenics, is down 57% at 12:36 p.m. EDT after the company announced that its ADHD medication, AEVI-001, failed a phase 2/3 clinical trial called SAGA.
SAGA tested AEVI-001 in adolescents 12 to 17 years old with ADHD who have a mutation in mGluR. The mGluR mutation causes a glutamate imbalance in patients, which Aevi Genomic Medicine hopes can be treated with AEVI-001, an oral selective activator/modulator of mGluRs.
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