Frequency Therapeutics (Nasdaq:FREQ) shares were down more than 80% on Monday afternoon after the company announced the failure of the Phase 2b study for FX-322, its lead candidate drug for hearing loss. As a result, the Lexington, Massachusetts-based biotech company will discontinue its hearing loss program and cut its workforce by 55%. It says its…
Decibel Therapeutics announces study on noise-related inner ear damage
Decibel Therapeutics (NSDQ:DBTX) has a working hypothesis that molecular characterization of the cell biology of the inner ear could pave the way for treatments for hearing and balance disorders. The Boston-based biotech company has announced that a recent study published in Cell Reports supports that hypothesis. “We were thrilled to leverage our data and expertise in inner…
Frequency Therapeutics faces growing legal challenges
Hearing loss drug developer Frequency Therapeutics (NASDAQ: FREQ) is the subject of a growing number of security fraud accusations on behalf of investors. Earlier this year, things were looking up for the company’s lead product candidate, FX-322. But on March 23, Frequency Therapeutics announced that interim results suggested that FX-322 was not effective at improving…
Frequency Therapeutics drug shows promise in restoring hearing in small study
Frequency Therapeutics (Woburn, Mass.) recently announced data related to its experimental FX-322 drug. The small Phase 1/2 study, published in Otology & Neurotology, found hearing improvements in adults with age-related sensorineural hearing loss. At present, there are no FDA-approved drugs for preventing or restoring such hearing loss. However, administering steroids can facilitate recovery of hearing…