Vernalis to partner off pipeline after Phase II miss

Vernalis plc (LSE:VER) slumped 2.75p to 78p after V158866 missed the primary endpoint of reducing neuropathic pain resulting from spinal cord injury in a Phase II trial. The company said the small molecule inhibitor of fatty acid amide hydrolase ( FAAH) showed a trend towards efficacy in the per protocol population (p=0.054).

Vernalis also said it plans to outlicense its remaining unpartnered development candidates, including V158866 and cancer therapies AUY922 and V158411. In December 2014, Novartis AG (NYSE:NVS; SIX:NOVN) returned rights to AUY922, a resorcinol-based heat shock protein 90 ( Hsp90) inhibitor that was in Phase II to treat solid tumors. V158411 is a preclinical checkpoint kinase 1 (Chk1) inhibitor. ...