March 31 Quick Takes: Cytokinetics to discontinue reldesemtiv ALS Phase III

Cytokinetics Inc. (NASDAQ:CYTK) will discontinue its Phase III trial of reldesemtiv to treat amyotrophic lateral sclerosis (ALS) after interim data showed the fast skeletal muscle troponin activator would miss both the primary endpoint of change from baseline to 24 weeks on the ALS Functional Rating Scale – Revised (ALSFRS-R) and key secondary endpoints. Reldesemtiv missed in a Phase II study in ALS patients in 2019. The company added it would assess next steps for its neuromuscular development programs in the coming months.

Nordic biotech Zealand Pharma A/S (CSE:ZEAL) raised DKK1.5 billion ($216.4 million) via a direct issue and private placement following positive Phase I data for the company’s amylin analogue ZP8396 in obesity, where there is a growing number of molecules outside the leading GLP-1 paradigm. Zealand shares fell DKK25 (10%) to DKK215.60 on Friday after announcing the sale of 6.6 million shares at DKK228 per share...