Amicus Therapeutics slumps on new Fabry drug data
Amicus Therapeutics falls on second report of unsuccessful study of Fabry disease drug
NEW YORK (AP) -- Shares of Amicus Therapeutics Inc. tumbled Friday after the company reported new negative results from a clinical trial of an experimental treatment for Fabry disease, a rare genetic disorder.
Amicus said the drug, which is called migalastat, did not meet secondary goals in the study. In December, Amicus and its partner GlaxoSmithKline said the drug had not met the main goal in the trial.
Fabry disease is an enzyme disorder caused by the buildup of a type of fat in the body's cells. The fat can cause pain and damage the kidneys and nervous system, among other problems.
Shares of Amicus fell $1, or 25.7 percent, to $2.89 on Friday. The stock has lost 50 percent of its value since Dec. 19.
