Shares in Anika Therapeutics (NSDQ:ANIK) fell more than -30% this week after the company reported that its osteoarthritis drug, Cingal, failed in a Phase III trial.
The therapy, designed to treat osteoarthritis of the knee, is a combination of cross-linked hyaluronic acid and triamcinolone hexacetonide. The trial’s primary endpoint compared the pain reduction experienced by patients treated with Cingal compared to those treated with just TH at 26 weeks.
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The post Anika shares plummet after Phase III trial misses endpoint appeared first on MassDevice.
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