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Shares of Virios Therapeutics Inc. tumbled 64.3% in premarket trading on Monday after the company said its experimental fibromyalgia treatment did not meet the primary endpoint in a Phase 2b clinical trial. “Overall, the efficacy data from this trial were not what we had expected,” R. Michael Gendreau, Virios’ chief medical officer, said in a news release. “We will continue to explore IMC-1’s potential as a viable [fibromyalgia] treatment option.” Virios shares are up 71.4% this year, while the S&P 500 has declined 18.7%.
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