Coronado Biosciences, Inc. (CNDO) announced disappointing top-line results from a pilot study on TSO (Trichuris suis ova or CNDO-201). Coronado’s shares fell 3.8% following the news.
The candidate is being developed for the treatment of adults suffering from autism spectrum disorder (:ASD). This is an investigator initiated study conducted by the Hadassah-Hebrew University Medical Center in Jerusalem, Israel.
The double-blind, randomized, placebo-controlled, cross-over study enrolled ten high functioning adult autism spectrum disorder patients. These adults were able to give informed consent to participate in the study and previously had allergies and/or a family history of immune-inflammatory disorder.
The patients were treated either with TSO or placebo for two 12-week periods with a four-week washout phase in between. Results from the study revealed that the candidate failed to meet statistical significance on all measures. TSO was however well-tolerated during the study. Coronado intends to present detailed data from the study at the European College of Neuropsychopharmacology (:ECNP) Congress later in the year.
Coronado currently has no marketed products in its portfolio. As a result, the successful development of the candidate is crucial for the company. TSO is the primary candidate at Coronado. Similar disappointing results on the candidate or any setback will push the company further back.
Coranado Biosciences carries a Zacks Rank #4 (Sell). Some better-ranked stocks worth considering include Regeneron Pharmaceuticals, Inc. (REGN), Biogen Idec Inc. (BIIB) and The Medicines Company (MDCO). All these stocks carry a Zacks Rank #1 (Strong Buy).