Satsuma Pharma Shares Nosedives After Disappointing Data From Migraine Study

  • Satsuma Pharmaceuticals Inc STSA shares are falling after the company reported topline results from the STS101 SUMMIT Phase 3 efficacy trial in migraine patients.
  • Although topline data showed numerical differences in favor of STS101 5.2 mg versus placebo on the pre-specified co-primary endpoints of freedom from pain and freedom from the most bothersome symptom (MBS) at two hours post-administration, these differences did not achieve statistical significance.
  • STS101 did, however, demonstrate significant effects on both freedom-from-pain and MBS-free endpoints by three hours post-dose and at all subsequent time points at which efficacy was assessed.
  • Related: This Stock Earns Price Bump, Bullish Pitch On Recent Positive Migraine Drug Data.
  • In addition, STS101 was statistically superior to the placebo on multiple key secondary endpoints, including the number of patients requiring rescue medication within 24 hours and 48 hours post-treatment.
  • Satsuma announced that it does not plan to invest in commercializing STS101 and will actively explore alternatives. As of October 31, 2022 the company had estimated cash and equivalents of $59.4 million.
  • Price Action: STSA shares are down 82.2% at $0.72 during the premarket session on the last check Monday.
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