Spruce Biosciences shares are trading lower after the company reported FY23 financial results. Also, the company announced that the CAHmedlia-203 study of Tildacerfont in adult classic congenital adrenal hyperplasia with severe hyperandrogenemia did not meet its primary efficacy endpoint.
Portfolio Pulse from Benzinga Newsdesk
Spruce Biosciences reported FY23 financial results and announced that its CAHmedlia-203 study of Tildacerfont in adult classic congenital adrenal hyperplasia with severe hyperandrogenemia failed to meet its primary efficacy endpoint, leading to a decrease in its share price.
March 14, 2024 | 11:58 am
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NEGATIVE IMPACT
Spruce Biosciences shares declined following the announcement of FY23 financial results and the failure of the CAHmedlia-203 study of Tildacerfont to meet its primary efficacy endpoint.
The failure of a key study often leads to a decrease in investor confidence, particularly in biotech companies where product development success is critical. Combined with the financial results, this news is likely to have a negative short-term impact on SPRB's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100