- Cyclerion Therapeutics Inc CYCN is Reprioritization of development programs and focusing resources and skills on mitochondrial disease candidates.
- The Company evaluated the pharmacology of sGC stimulation with once-daily CY6463 in signal search studies in three patient populations.
- From now on, Cyclerion will focus on the future development of CY6463, initially focusing on the development of Mitochondrial Encephalomyopathy, Lactic Acidosis and Stroke-Like Episodes (MELAS).
- “We look forward to discussions with regulators later this year and the release of more detailed development plans early in the new year,” said Peter Hecht, CEO of Cyclerion.
- also read: Why Cyclerion Therapeutics stock is getting hammered
- The company is preparing to meet with the FDA to discuss the CY6463 development program.
- Cyclerion is also developing CY6463 in patients with cognitive impairment associated with schizophrenia (CIAS) and Alzheimer’s disease with vascular pathology (ADv).
- According to Cyclerion, CY3018 is well suited for the treatment of CIAS and other neuropsychiatric indications. Cyclerion is conducting pre-IND activities for CY3018 and is looking for a partnership or other funding mechanism to further develop the program in the future.
- The company has limited enrollment in its ongoing ADv clinical trial. Data from the ADv study are expected in the first half of 2023.
- The company reduced its workforce by approximately 45% to 16 full-time employees and will incur a one-time fee of $1.9 million and achieve annual savings of approximately $4.1 million.
- Price promotion: CYCN shares are down 42.58% on the last check Thursday to $0.5399.
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