Orphazyme shares sink as late-stage test of 'heat shock protein' flops

Orphazyme saw its stock sink more than 30% in Europe Monday morning after it failed to to hit any of the endpoints in a phase 2/3 trial.

The experimental drug, arimoclomol, was being tested in 150 patients against placebo for inclusion body myositis, a progressively debilitating muscle-wasting disease, but failed to hit its primary or secondary endpoints.