Pharmos pain drug fails in Phase II

Shares of Pharmos dropped this morning after researchers announced that a mid-stage trial of its experimental therapy for intravenous pain failed to hit its primary endpoint. The trial studied the response of 24 patients to cannabinor. A separate test for relieving pain associated with molar dental extractions will continue. "While we are disappointed that cannabinor did not show efficacy in this pain model, we have a newly developed oral formulation of cannabinor targeting chronic neuropathic pain with repeated administration," said Dr. Haim Aviv, chairman & CEO. "We plan to move forward with the program for orally administered cannabinor, and our next step is to conduct a Phase I safety trial in healthy volunteers."

- here's the release on the clinical trial