Acceleron ditches midstage drug after flop

Acceleron ditches midstage drug after flop

Source: 
Fierce Biotech
snippet: 

Acceleron Pharma saw its shares in the red Monday night after one of its key pipeline drugs failed.

The experimental med was being tested in a phase 2 trial in patients with Charcot-Marie-Tooth disease (CMT), a group of inherited conditions that damage the peripheral nerves. In a brief update, Acceleron said ACE-083 “did not demonstrate functional improvement” in the study and that it was now “discontinuing development” of the therapy.