Frequency Therapeutics tanks as hearing loss trial fails
Shares of US regenerative medicines firm Frequency Therapeutics (Nasdaq: FREQ) plummeted more than 80% to $0.75 yesterday, after it announced it is terminating programs in sensorineural hearing loss (SNHL) because FX-322 failed to meet the goal of a study in people with acquired SNHL, and is slashing its workforce.
The placebo-controlled Phase IIb study of FX-322 in individuals with acquired SNHL, which enrolled 142 people with either sudden or noise-induced sensorineural hearing loss, failed to achieve its primary efficacy endpoint of an improvement in speech perception. Data showed no statistically-meaningful difference at day 90 between those administered FX-322 versus those receiving placebo in the proportion of individuals that demonstrated an improvement in speech perception.
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