Flex Pharma slips again after FLX-787 update

Flex Pharma Inc. (NASDAQ:FLKS) shares continued a two-day slide Friday after the company reported data from exploratory studies of FLX-787 to treat nocturnal leg cramps. The company fell $1.34 (16%) to $7.09 on Friday after sinking 25% on Thursday, for a total two-day loss of 37%.

Flex said FLX-787 led to statistically significant effects by some but not all crossover endpoints in two studies, but showed "positive signals" on muscle cramping in parallel design portions of the studies. Next half, Flex plans to begin a parallel design Phase II study of FLX-787. The company said FDA has informed it that cramp frequency "could be an acceptable primary efficacy endpoint." ...