Wanda announced that an anti-anxiety drug failed to meet its primary endpoint in late-stage clinical trials, and therefore the project has been suspended.

Reuters, October 14 - Vanda Pharmaceuticals (VNDA.O) said on Wednesday that its experimental drug for social anxiety disorder failed to meet the main goals in late-stage clinical trials, prompting the company to suspend the project pending further analysis of the data.

The biopharmaceutical company's shares fell by about 17% in after-hours trading.

• The company said the study results did not show that the drug VQW-765 reduced anxiety compared to placebo in a public speaking stress test, and added that the drug also failed to meet a key secondary goal in a broader study population.

• The late-stage clinical trial enrolled 546 adults with social anxiety disorder at approximately 30 trial sites in the United States.

• Vanda said the study aimed to validate the results of an earlier mid-stage trial, which had suggested the drug could reduce symptoms of anxiety.

• The company stated that the late-stage results did not confirm the earlier findings.

• Vanda said development of VQW-765 will be paused during review of the complete data set.

• The company stated that the drug was well tolerated and safe, consistent with earlier research results.

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