Disappointing news from Frequency Therapeutics.  The company announced that its giving up on FX-322, a drug that it hoped could treat Sensorineural Hearing Loss and restore lost hearing.  But the latest clinical study showed no improvement in the subjects hearing.

To quote the company’s press release:

The study, which enrolled 142 people with either sudden or noise-induced sensorineural hearing loss, failed to achieve its primary efficacy endpoint of an improvement in speech perception. Data showed no statistically meaningful difference at day 90 between those administered FX-322 versus those receiving placebo in the proportion of individuals that demonstrated an improvement in speech perception.

The Company will now discontinue the FX-322 development program. 

Half of its employees are being laid off as the company says it will shift its focus to developing a treatment for MS.