Alcobra Ltd. Stock Plummets 43% After Failed Late-stage Trial For Its ADHD Drug

Alcobra Ltd. stock plummeted 42.6% in pre-market trade Tuesday after the company said its ADHD drug failed to meet its primary endpoint in a phase 3 trial. The company is "exceedingly disappointed" with the topline results, President and chief executive Dr. Yaron Daniely said. It plans to review the full data set and evaluate its options, he said. The drug, Metadoxine Extended Release, was intended to treat ADHD in adult patients. Alcobra shares have dropped 20.2% over the last three months, compared with a 7.0% rise in the S&P 500 .

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