Setback for another Zafgen MetAP2 inhibitor

Zafgen lost $1.10 (24%) to $3.50 in after-hours trading Monday after the company said it suspended plans to submit an IND for Prader-Willi syndrome candidate ZGN-1258 based on findings of muscle degeneration and other anomalies in long-term rodent toxicology studies.

Zafgen Inc. (NASDAQ:ZFGN) also said Monday that Dennis Kim has resigned as CMO to serve as a consultant in a CMO capacity for multiple biotech companies. Last week, Zafgen hired Priya Singhal as head of R&D. She was SVP and global head of safety and benefit risk management at Biogen Inc. (NASDAQ:BIIB), as well as interim global co-lead and SVP of global development...