Australia's Neuren sinks as Rett drug setback prompts Jefferies PT, outlook cuts

Acadia Pharmaceuticals

05/02/2026 23:39

Updates

** Neuren Pharmaceuticals NEU.AX slips 3.41% to A$12.750, heading toward a tenth straight day of losses

** Stock slids 22.9% so far this week and is on track for its weakest weekly showing in over 11 weeks

** Jefferies trims PT and annual earnings forecasts for NEU after setback for Rett treatment drug application from European regulator

** NEU on Tuesday said licensee Acadia Pharmaceuticals ACAD.O has reported that a committee of the European Medicines Agency issued a negative trend vote on its marketing-authorisation application for the trofinetide drug

** Jefferies says following the latest setback, it now assumes EU trofinetide royalties will begin in Q4 rather than Q2, cutting NEU's FY26 NPAT forecast to A$48.1 million ($33.48 million) from A$58.2 million

** Trims its price target to A$27 from A$27.75, maintains "Buy" rating

** Stock down 31.5% YTD

($1 = 1.4366 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))