Axovant Sciences Ltd (NASDAQ:AXON) tanked on Tuesday after the biotech's experimental Alzheimer's drug failed in a key late-stage trial.
Treatment with intepirdine, as Axovant's drug is known, didn't improve either cognition or daily living activities in patients with mild to moderate Alzheimer's disease when added to background treatment with donepezil.
The MINDSET trial evaluated the efficacy, safety and tolerability of intepirdine in patients with mild to moderate AD on donepezil therapy throughout 24 weeks. Primary efficacy endpoints included ADAS-Cog and the ADCS-ADL.
Snap Inc. (SNAP) Downgraded by Deutsche Bank AG to Hold
Zacks Investment Research raised shares of Snap from a "sell" rating to a "hold" rating in a report on Wednesday, August 16th. Oppenheimer Holdings Inc. began coverage on shares of Snap Inc (NYSE: SNAP ) in a research report report published on Monday.
Intepirdine, an oral, once-daily drug, is a potent antagonist of the 5-HT6 receptor promoting the release of acetylcholine in the brain, a neurotransmitter critical in alertness, memory, thought and judgement needed for normal cognition. "However, we believe that the fight against Alzheimer's and other important areas of unmet need in neurology is too important to be derailed by this setback".
The plan now is to investigate how Intepirdine works in people who have Lewy body dementia - a neurodegenerative disease that has similar symptoms to Alzheimer's or Parkinson's. In the study, intepirdine was generally well tolerated.
David Hung, M.D., chief executive officer of Axovant, said, "While we are deeply disappointed by these trial results, we also are saddened for the millions of patients and families impacted by Alzheimer's disease".
- Valero Energy Partners (NYSE:VLP) Earning Somewhat Favorable News Coverage, Analysis Shows
- Diageo unveils Johnnie Walker Blade Runner 2049 Scotch whisky
- Attack on Titan 2 nous en dit plus sur sa sortie occidentale
- Chelsea should have kept Diego Costa, according to Ray Wilkins
- Trump replaces travel ban with new travel restrictions
- Alaves v Real Madrid 23 September 2017
- Trading Tracker: Monitoring Shares of Cisco Systems Inc (CSCO)
- Santé. En état végétatif, il retrouve des signes de conscience minimale
- Antonio Conte speaks about team selection ahead of Stoke clash
- Maruti WagonR hits 2 million sales milestone