Adolor shares sink after placebo effect scuttles PhIIa pain trial

Shares of Adolor (ADLR) took an 18 percent dive yesterday evening after the company announced that two of its pain meds partnered with Pfizer had failed a mid-stage clinical trial. Pfizer paid $30 million upfront to collaborate on ADL5859 or ADL5747, two therapies that were tested alongside oxycodone for its effectiveness in reducing pain among patients with osteoarthritis. Exton, PA-based Adolor said that an unusually high placebo response eliminated any statistically significant drug...