Contineum falls as J&J-partnered depression drug fails mid-stage trial

Johnson & Johnson

15/09/2026 18:12

** Shares of Contineum Therapeutics CTNM.O fall 9.6% to $13.40
** Contineum said late on Monday its experimental depression drug, co-developed with Johnson & Johnson JNJ.N, failed to meet the main goal of a mid-stage study
** The drug, JNJ-5120 or PIPE-307, did not show the required improvement in depression symptoms compared to a placebo
** J&J stated it continues to review the broader data from the study to decide the next steps for the medicine
** The trial failure "removes an upside driver, but not thesis changing" for the Contineum, Stifel analysts says, who remain focused on the company's lung disease pipeline
** Shares of JNJ fell as much as 2.1% to $260.68 on Tuesday
** As of last close, CTNM up 17.4% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))