ST. LOUIS, Mo. (KMOX) — Imagine you’re taking part in a clinical drug trial and then suddenly being told that the program is shutting down — oh, and you’re not getting paid, either!
St. Louis-area resident “Gary” doesn’t have to imagine it — he’s living it.
“Gary” who didn’t want to give his full name, tells KMOX News that he and about three-dozen other test subjects were in the final hour of a 51-hour study for a new pain-killer at PRACS Institute Wednesday when a lab employee came in and told them they had to leave, the company had just filed for bankruptcy.
“Essentially we were informed that within the last several minutes he along with all the other staff members at the facility were informed that the company was out of business,” said Gary.
The contract research organization known as the PRACS Institute locked the doors of its St. Louis office yesterday and put up a sign reading “all studies are cancelled”.
The move reportedly came after the Fargo North Dakota-based company filed for bankruptcy, but there’s no mention of that on the PRACS website where the last news release is dated March 11th.
KMOX News has learned that until last summer, PRACS went by the name of Cetero Research. Cetero Research filed for Chapter 11 bankruptcy June 20, 2012 and was renamed PRACS Institute as part of a corporate reorganization.
“Obviously to have this happen, literately, in the last hour in that confinement period was rather shocking,” said Gary a veteran of multiple drug trials.
But he isn’t worried about the unmonitored effects of the painkiller he was testing, “I’ve been in a period of unemployment and an inability to find some full-time work. I relied on this money more than I wished I had.”
Gary said he was promised $1,800.
Attempts to contact PRACS have been unsuccessful.