COSCIENS shares plummet after legal setback (NASDAQ:CSCI)

COSCIENS Biopharma (NASDAQ: CSCI) fell by ~31% on Tuesday after the Canadian biotech company announced that its lead compound, macimorelin, failed to meet its primary goal in a Phase 3 trial to diagnose childhood-onset growth hormone deficiency (CGHD).
Based on the topline results of its DETECT study, Cosciens (CSCI) said macimorelin did not meet the study's primary efficacy endpoint compared to standard growth hormone stimulation testing.
The company attributed the setback to a high rate of false-positive results and noted that “these unexpected results require further clarification and some re-analyses to consider the study outcome and strategy for the future.”
Macimorelin is already marketed in the US and EU for the diagnosis of adult growth hormone deficiency (AGHD), and the DETECT study is an international study conducted as part of a pediatric screening plan in individuals aged three to 17 years.
The safety data confirmed the known tolerability profile of the oral drug, said Cosciens (CSCI), adding that full test results are planned to be announced later this year.

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