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October 22, 2018

Boston’s Flex Pharma slashes headcount, eyes sale after ALS drug fails

Boston-based Flex Pharma will lay off most of its employees and explore a potential sale or merger after ending a mid-stage trial of its lead drug, which targets several diseases including amyotrophic lateral sclerosis, or ALS.

Flex (Nasdaq: FLKS) announced Wednesday that it had halted a Phase 2 study of the drug, called FLX-787, in patients with either ALS or neurological disorder Charcot-Marie-Tooth disease. The company cited “oral tolerability concerns,” though it said that the drug had helped…

Source: Boston Biz

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