Lou Gehrig’s Disease Drug Trials Halted

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Shares in biopharmaceutical products developer CytRx Corp. plunged nearly 22 percent Tuesday after the company said the Food and Drug Administration halted its clinical trial of an experimental drug for the treatment of Lou Gehrig’s disease.


The Los Angeles-based company said the drug, arimoclomol, was being tested to treat the progressive condition that affects nerve cells in the brain and spinal cord. The FDA said its decision was based on the need for further analysis from previous studies conducted on animals.


Lou Gehrig’s disease, also known as amyotrophic lateral sclerosis or ALS, has no cure or treatment.


CytRx said the drug has been proven to be safe and requested further clarification from the FDA, which is expected to come in the next few weeks.


“We are taking the necessary steps to resolve this matter as expeditiously as possible, and we plan to work with the FDA to provide everything necessary to allow us to resume and move forward with this clinical trial,” CytRx’s Chief Executive Steven Kriegsman, said in a statement. “CytRx remains committed to the clinical development of this drug candidate.”


Shares in CytRx plunged nearly 22 percent to $1.64 in mid-afternoon trading Tuesday on the Nasdaq.

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