A Phase 2 clinical trial, ASCEND, evaluating Aevi Genomic Medicine's (NASDAQ:GNMX) lead candidate AEVI-001 in children aged 6 - 17 with attention deficit hyperactivity disorder (ADHD) failed to achieve the primary in either Part A or Part B after six weeks of treatment.
The company plans to downsize in order to extend its cash runway. At the end of December 2018, it had ~$5M in net working capital.
Previously: Aevi Genomic's lead product candidate flunks ADHD study; shares plummet 56% (March 20, 2017)
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