Neurocrine Biosciences Inc (NASDAQ:NBIX) shares sank after a midstage trial for Tourette syndrome in children and adolescents failed to meet its primary goal, the company said. The Phase 2B study found valbenazine did not meet the primary endpoint of reducing tic severity in young people with moderate to severe versions of the disease.
Shares of the company plummeted 19.5% to $69.03.
Mallinckrodt PLC (NYSE:MNK) shares fell after its painkiller treatment was declined by the US Food and Drug Administration. The FDA declined to approve an abuse-deterrent version of the UK-based pharmaceutical company's opioid painkiller Roxicodone. It said parts of the application need further evaluation. The treatment is a reformulated version of the company's commonly abused painkiller Roxicodone, intended to make the drug less desirable and more difficult to be abused by snorting or injecting.
Mallinckrodt's US-listed stock was down 7.6% to $19.10.
READ: Mallinckrodt rings up higher 3Q earnings and revenue; raises EPS guidance
Johnson & Johnson (NYSE:JNJ) stock rose after claiming its drug to treat psoriasis was more effective than those of a rival. The company said its drug Tremfya was more effective than a rival medication from Novartis AG, and met the main goal of a late-stage study in adults with moderate to severe plaque psoriasis. The study involving 1,048 participants showed Tremfya was superior to Novartis' Cosentyx in reducing the severity and area of the body affected by the condition, which causes dry, flaky and itchy skin patches, J&J said.
J&J stock gained almost 0.7% to $147.47.
Contact Rene Pastor by rene.pastor@proactiveinvestors.com