CervoMed tumbles after dementia drug fails to meet mid-stage trial goals
10/12/2024 12:55
** Shares of drug developer CervoMed CRVO.O fall 71.3% to
$2.90 premarket
** Co says its drug, neflamapimod, did not meet the main and
secondary goals in a mid-stage trial testing it as a treatment
for dementia with Lewy bodies (DLB)
** DLB is a form of dementia caused by the accumulation of
protein deposits called Lewy bodies in the brain's nerve cells
** CRVO says the drug, neflamapimod, did not achieve the
trial's main goal of significantly reducing symptoms of dementia
** CervoMed CEO John Alam says the company is pausing all
preparations for its previously planned late-stage trial for the
treatment until full analysis of the trial data is complete
** Up to last close, stock up 34.3% YTD
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))