Denali falls on plans to revise development of Parkinson's disease treatment program

Denali Therapeutics

05/06/2023 18:32

** Shares of Denali Therapeutics  DNLI.O  fall 2.4% to
$30.75
    ** The drug developer along with partner Biogen Inc  BIIB.O 
plans to revise the clinical development program for BIIB122,
which is being developed as a potential treatment for
Parkinson's disease
    ** Says discontinuing the late-stage LIGHTHOUSE study due to
its complexity and long timeline of study completion expected in
2031
    ** Adds planned revisions are not based on any safety or
efficacy data  
    ** DNLI and BIIB plan to refocus their efforts to enable a
timely readout on efficacy of its mid-stage LUMA study in
patients with early-stage Parkinson's disease
    ** Patients currently enrolled in LIGHTHOUSE study will be
given the opportunity to join LUMA instead - co
    ** DNLI stock up ~10% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))