Zafgen discontinues beloranib development

Zafgen Inc. (NASDAQ:ZFGN) sank $2.83 (42%) to $3.92 in early after-hours trading after it said it will discontinue development of subcutaneous beloranib ( ZGN-440) and focus instead on second-generation methionine aminopeptidase 2 ( MetAP2) inhibitor ZGN-1061 to treat severe and complicated obesity.

FDA placed beloranib under a clinical hold in December after Zafgen reported two patient deaths in a Phase III study to treat Prader-Willi syndrome. Beloranib is a MetAP2 inhibitor (see BioCentury Extra, Dec. 14). ...