Aevi plummets after ADHD candidate fails in Phase II/III

Aevi Genomic Medicine Inc. (NASDAQ:GNMX) shed $3.23 (59%) to $2.21 on Monday after it said AEVI-001 missed the primary endpoint in the Phase II/III SAGA study to treat ADHD in adolescent patients with metabotropic glutamate receptor (mGluR) mutations. The primary endpoint was reduction from baseline on the ADHD rating scale (ADHD-RS) vs. placebo.

According to Aevi, mGluR mutations affect more than 20% of ADHD patients. AEVI-001, the company's lead candidate, is a small molecule agonist of mGluR subtype 1 (mGluR1), mGluR3, mGluR5, mGluR7 and mGluR8. ...