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Aptinyx completed its initial public offering (“IPO”) of common stock in June 2018, generating gross proceeds of over $117 million and selling over 7.3 million shares of stock priced at $16.00 per share . Then, on January 16, 2019, Aptinyx disclosed that its proposed treatment of painful diabetic peripheral neuropathy “did not demonstrate statistically significant separation from placebo on the primary endpoint, change in subjects’ average daily pain scores on the Numerical Rating Scale (NRS) during the final treatment week compared to baseline.”
On this news, Aptinyx’s stock price fell over 66% to close at $5.98 per share on January 16, 2019.