Sucampo Pharmaceuticals Inc. shares were down 19.33% in pre-market trade Tuesday after the company said its drug missed its primary endpoints in a phase 2a trial. The company said it would stop developing the drug, cobiprostone, to treat gastroesophageal reflux disease and instead focus on developing it for oral mucositis, a complication of cancer treatment, a disease the company said has “very different underlying pathophysiology and clinical endpoints.” Sucampo stock was trading at $9.14 before the bell, compared with Monday’s closing price of $11.33. Sucampo shares have declined 13.58% in the past three months, compared with an 11.32% rise in the S&P500.
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