(Reuters) - Tranzyme Inc said a preliminary analysis showed that its experimental drug to treat a type of paralysis of the stomach did not meet the main goal of a mid-stage trial.
The main goal of the study was to reduce four symptoms in patients suffering from gastroparesis - a condition that slows down the movement of food through the digestive tract due to the paralysis of stomach muscles.
The trial was studying two doses of the drug, TZP-102, administered once a day for 12 weeks on diabetes patients. The drug was well tolerated, the company said.
This setback comes after the company's experimental drug to improve gastrointestinal recovery after surgery failed to meet the main goals of a second late-stage trial in May.
The company had said at the time that it would focus on its drug to treat diabetic gastroparesis.
Tranzyme is currently conducting a second mid-stage trial testing a 10 mg dose of TZP-102 administered thrice daily.
Shares of the company, which have risen about 23 percent since late May, closed at $3.97 on Wednesday on the Nasdaq.