Vanda Pharmaceuticals (VNDA) said its experimental drug for social anxiety disorder failed the main goal of a late-stage study, prompting the company to put the program on hold pending further analysis of the data. Shares in the biopharmaceutical company fell about 17 per cent in extended trading.
The drug, VQW-765, did not reduce anxiety compared with placebo during a public-speaking stress test, the company said. It also missed a key secondary goal in the broader study population.
The trial enrolled 546 adults with social anxiety disorder at about 30 sites across the US. It was designed to confirm findings from an earlier mid-stage trial, which had suggested the drug could reduce anxiety symptoms. The late-stage results did not bear that out, Vanda said.
Development of VQW-765 will remain on hold while the company reviews the full dataset. The drug was safe and well tolerated, consistent with prior studies, Vanda added.