Horizon dips on Phase III Friedreich's ataxia miss

Horizon Pharma plc (NASDAQ:HZNP) dropped $4.36 (22%) to $15.03 on Thursday after it said Actimmune interferon (IFN) gamma-1b missed the primary endpoint in the Phase III STEADFAST trial to treat Friedreich's ataxia. The company said it will discontinue the candidate's development in the indication.

Compared to placebo, Actimmune failed to significantly improve change from baseline in the modified Friedreich's Ataxia Rating Scale (FARS-mNeuro) at 26 weeks. The candidate also failed to improve secondary endpoints, including activities of daily living (ADL), timed 25-foot-walk test (T25FW), Friedreich's Ataxia Rating Scale scores and other neurologic tests. ...