What's Going On With PaxMedica (PXMD) Stock Today?

PaxMedica Inc PXMD shares are trading lower by 11% to $4.00 Wednesday morning, pulling back following Tuesday's strength. The company on Tuesday announced research findings in the Annals of General Psychiatry regarding a study on low-dose suramin intravenous infusions as a potential treatment for Autism Spectrum Disorder.

What Happened?

A recent clinical trial involving 52 boys with moderate to severe autism spectrum disorder (ASD) revealed encouraging results in modifying core ASD symptoms, particularly among those receiving the 10 mg/kg suramin infusion.

The group administered a 10 mg/kg dose of suramin demonstrated notable enhancements in core ASD symptoms, and these improvements were also reflected in the statistically significant advancements observed in the Clinical Global Impressions-Improvement (CGI-I) scale compared to the placebo group.

The company says these findings hold promise for suramin as a potentially effective treatment for ASD.

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According to data from Benzinga Pro, PaxMedica has a 52-week high of $69.22 and a 52-week low of $2.50.