Cri­net­ic­s' acromegaly drug hits pri­ma­ry PhII end­point, but in­vestors can't make up their minds

A lit­tle more than two years af­ter first go­ing pub­lic, Cri­net­ics Phar­ma­ceu­ti­cals is near­ing the Phase III tri­al for its lead pro­gram. That can­di­date, pal­tuso­tine, just post­ed pos­i­tive Phase II da­ta as a main­te­nance ther­a­py for acromegaly ear­ly Mon­day morn­ing.

Cri­net­ics $CRNX said its Phase III re­mains on track to start some­time in the first half of 2021. In­vestors met the news warm­ly at first, send­ing com­pa­ny stock up rough­ly 20%, but shares quick­ly fluc­tu­at­ed and sunk more than 8% in ear­ly Mon­day trad­ing.

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