Flexion's FX006 misses in OA Phase IIb

Flexion Therapeutics Inc. (NASDAQ:FLXN) sank $11.05 (38%) to $17.95 in after-hours trading on Tuesday after FX006 missed the primary endpoint in a pivotal Phase IIb trial to treat osteoarthritis (OA) knee pain. The 40 mg dose of FX006 failed to show superiority to placebo in pain relief at 12 weeks (p=0.0821).

Flexion said a pre-specified analysis that accounted for patient dropouts showed FX006 significantly improved pain relief at 12 weeks (p=0.042). No serious drug-related adverse events were observed in the trial. ...