Flex Phar­ma's cramp study fails, shares plunge; FDA makes Egalet wait on pain drug

Shares of Flex Phar­ma $FLKS took a nasty hit yes­ter­day as the biotech tried to ex­plain away a pre­lim­i­nary con­clu­sion that their lead drug, FLX-787, failed a study for pre­vent­ing leg cramps. If you ex­clude da­ta from one of the three sites you get a sig­nif­i­cant re­sult, said the biotech. That ar­gu­ment rarely fares well, and Christoph West­phal’s com­pa­ny wasn’t able to make much head­way against the neg­a­tive re­ac­tion.

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