A Peninsula drug company that hoped to bring fast relief to migraine sufferers with a nasal spray version of a longtime drug instead blew its second late-stage clinical trial in little more than two years.
The co-primary endpoints of the trial were freedom from pain and"most bothersome symptom," a catch-all category for how persons with migraines designate associated symptoms, including nausea, eye discomfort in bright light, called photophobia, and fear of loud sounds. Injectable DHE has been used to treat migraines for years and two decades ago a liquid spray DHE was approved by the Food and Drug Administration. But that nose delivery has a variable results and requires migraine sufferers to crack a vial of the drug and connect it to a sprayer before shooting it up their nostrils four times.
It's been a costly ride. After Satsuma went public with an $82.5 million IPO in September 2019 — six months before Covid-19 pandemic shutdowns — it had $118.9 million in cash, equivalents and short-term marketable securities. That figure had slipped to an estimated $59.4 million by the end of October.
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