Shares in the US biotech company Nastech fell as much as 36% in trading yesterday, as investor confidence was hammered on the news that US drug giant Merck has returned the rights to PYY3-36, the firm's experimental anti-obesity nasal spray.
Merck has decided to terminate its involvement in the agent's development after it failed to show efficacy in a proof-of-concept trial.
Looks like the illegal "Columbian marching powder" will remain the only inhaled weight loss drug for a while yet.
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