Stealth BioTherapeutics (NASDAQ:MITO) is poised for a significant down move after announcing unsuccessful results from a Phase 3 clinical trial, MMPOWER-3, evaluating elamipretide in patients with primary mitochondrial myopathy (PMM), a group of inherited disorders due to mutations in mitochondrial DNA or nuclear DNA.
The study failed to achieve the primary endpoints of the change from baseline to week 24 in the six-minute walk test and change from baseline to week 24 in a fatigue scale called PMMSA.
Management will host a conference call this morning at 8:30 am ET to discuss the results.
Trading, currently suspended, will resume at 8:30 am ET.
Update: Shares down 59% on resumption of trade.
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