StockMarketWire.com - Pharmaceutical group Diurnal shares tumbled 60% after its treatment for an adrenal conditional failed to meet its primary objective during a key trial.

The company's congenital adrenal hyperplasia treatment, Chronocort, was unable to demonstrate its superiority to conventional therapy in endocrine control over a 24-hour period following a European Phase III clinical trial, Diurnal said.

The implications of the overall trial results, including interim data from the ongoing long-term dosing study, would be discussed with the regulatory authorities, the company said.

'We are surprised by these results, following our previously successful Phase II clinical trial in CAH. However, these initial results confirm the concept of Chronocort, that early morning control of androgens can be achieved with a modified release preparation of hydrocortisone,' chief executive Martin Whitaker said.

'We will now analyse the full data set from this trial, along with interim data from the ongoing Chronocort long-term dosing study, to determine next steps in Chronocort® development, and discuss these with the regulatory authorities.'

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