Xenon Pharmaceuticals Inc. and Teva Pharmaceutical Industries Ltd. said premarket Tuesday that their mid-stage nerve pain drug missed its primary endpoint and secondary endpoints. Xenon shares plummeted 21% in premarket trade, while Teva shares were up 0.4%. The companies are evaluating next steps for the drug, TV-45070, which is intended for post-herpetic neuralgia, a painful complication of shingles. Xenon shares have plummeted 16.5% over the last three months to $3.80, while Teva shares have declined 0.2%, compared with a 4.2% rise in the S&P 500 .
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