Flex Pharma ($FLKS) announced that it plans to reorganize its clinical activities. As the result of this exercise, the firm will de-prioritize its clinical development activities in nocturnal leg cramps in favor of severe neurological diseases, specifically amyotrophic lateral sclerosis (ALS), multiple sclerosis (MS) and peripheral neuropathies like Charcot-Marie Tooth (CMT). The company now plans to launch U.S.-based Phase 2 studies this year assessing FLX-787, its transient receptor potential ion channel activator, in these indications.
The company CEO Christoph Westphal, M.D., Ph.D., said that the company is well-funded through early 2019. The company stock is currently over 16% down this year so far, continuing the slide it started to witness late last year. The new direction may provide some support to the stock.