FRAZER, Pa. (AFX) - Cephalon Inc. said Monday that an anxiety disorder drug candidate failed to meet the goals of a late-stage study.
The drug, called Gabitril, is currently used in the U.S. and Europe to treat partial seizures in children 12 years and older. The company did not elaborate on study results, but said the data are being evaluated to determine future development plans in other areas.
Cephalon rose $1.15, or over 2 percent, to close at $52.78 on the Nasdaq. It gave back those gains in after-hours trading on the INET electronic exchange, shedding $1.85, or 3.5 percent, at $50.93.
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