Cortexyme sinks as U.S. FDA puts lead drug trial on hold

IRulya Therapeutics

26/01/2022 13:50

** Drug developer's shares  CRTX.O  plunge 33.6% to $6.02
premarket
    ** Co says the U.S. FDA put a hold on an application
required to start a study of its lead drug, COR388, being
developed to treat Alzheimer's disease  urn:newsml:reuters.com:*:nBw1SxdZ6a
    ** CRTX to implement a cost reduction program, and now
intends to prioritize development of another drug, COR588, in
Alzheimer's disease
    ** In October, COR388 failed to improve cognitive function
in overall late-to-mid stage study of 643 mild to moderate
patients with Alzheimer's disease  urn:newsml:reuters.com:*:nL4N2RN39N
    ** Cortexyme plans to explore strategic alternatives for its
coronavirus drug and non-Alzheimer's indications for COR388
    ** Stock fell ~71% in the past 12 months 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15))