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Neurocrine Halts MS Effort

Neurocrine Biosciences, Inc. is halting development of a drug to treat multiple sclerosis after a midstage clinical trial missed its mark.

Despite the news, the San Diego-based biotech’s shares were up 69 cents, or 1 percent, at $69.39 in late trading the day of the announcement, March 8.

The drug’s efficacy was not statistically significant during the Phase II, nine-month trial that involved 157 patients, although it proved well-tolerated and safe.

Altered peptide ligand, the technology that was being tested as a potential treatment for MS, will continue to be tested , in a slightly different form , as a therapy for type 1 diabetes. Neurocrine will release the results of that study in the third quarter, the company reported.

Neurocrine is still awaiting a decision from the Food and Drug Administration for Indiplon, a drug to treat sleep disorders.

The FDA and the Drug Enforcement Agency, which oversees controlled substances, are expected to make rulings on Indiplon by May 15.

Neurocrine is developing the drug with Pfizer, Inc.

With 364 local employees, Neurocrine is the sixth-largest biotech company in San Diego and has nearly 10 products in clinical trials.

The company’s stock trades as NBIX on the Nasdaq.

, Katie Weeks

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