Catalyst falls on CPP-109 Phase IIb miss
Catalyst Pharmaceutical Partners Inc. (NASDAQ:CPRX) fell $0.95 (66%) to $0.50 on Thursday after the company reported that CPP-109 missed the primary endpoint of a greater proportion of cocaine-free patients during the last two weeks of treatment vs. placebo in the Phase IIb CPP-01005 trial to treat cocaine addiction. CPP-109 also missed the secondary endpoints of a greater proportion of cocaine-negative urine tests and a greater reduction in the weekly fraction of cocaine-use days during weeks 3-9 vs. placebo. The double-blind, U.S. trial enrolled about 200 cocaine addicts.
Catalyst said it expects to complete the remaining protocol-specified analyses from the trial next half, after which the company will meet with its collaborator, NIH's National Institutes on Drug Abuse (NIDA), to determine next steps. Catalyst also said it will monitor the results of an investigator-sponsored Phase I/II trial of CPP-109 to treat Tourette's disorder to determine if further development is warranted in the indication. ...