Orphazyme Shares Plummet After FDA Turns Away Arimoclomol Application
June 18 2021 - 7:10AM
Dow Jones News
By Colin Kellaher
Shares of Orphazyme A/S dropped more than 60% Friday after the
U.S. Food and Drug Administration rejected the biopharmaceutical
company's application for approval of arimoclomol for the treatment
of the rare progressive genetic disorder Niemann-Pick disease type
C, or NPC.
The Copenhagen company said it received a complete response
letter from the FDA indicating that the agency wouldn't approve the
application in its current form,
Orphazyme said the FDA requested more qualitative and
quantitative evidence to substantiate the validity and
interpretation of the five-domain NPC clinical severity scale, a
disease-specific, clinician-reported outcome measure of disease
severity and progression, particularly the swallow domain.
The company said the FDA also asked for more data to bolster
confirmatory evidence beyond the single Phase 2/3 clinical trial to
support the benefit-risk assessment of the application.
Orphazyme said it is assessing the potential path forward in the
U.S. in partnership with the FDA, adding that it plans to cut costs
substantially and freeze all efforts not related to clinical and
regulatory activities to support approval for NPC.
The company said it will focus its efforts on pursuing European
regulatory approval, with an opinion from the European Medicines
Agency's Committee for Medicinal Products for Human Use expected by
the end of the year and potential marketing authorization in the
first quarter of 2022.
Copenhagen-listed shares of Orphazyme were recently down 62% to
37.84 Danish krone ($6.08).
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 18, 2021 06:57 ET (10:57 GMT)
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