Neurotrope shares crash after Alzheimer's drug fails in trial

NextTrip

09/09/2019 14:20

Sept 9 (Reuters) - Drug developer Neurotrope Inc's  NTRP.O 
shares tumbled nearly 80% on Monday after the company said its
experimental treatment for Alzheimer's disease did not meet the
main goal of a mid-stage study.
    This is the second time in just over two years that the
treatment - Bryostatin-1 - failed to meet its targets, raising
questions about the drug's future. (https://reut.rs/2kCiDyh)
    The treatment, Bryostatin-1, did not show any significant
difference in patients after 13 weeks compared with those on
placebo, the company said on Monday.
    Neurotrope said it intends to conduct a complete review of
the data to determine next steps in the treatment's development.
    Alzheimer's disease, which affects parts of the brain that
control thought, memory and language, is a progressive condition
that could seriously disrupt a patient's ability to carry out
daily activities.
    Several drugmakers such as Eli Lilly  LLY.N , AstraZeneca
Plc  AZN.L , Roche AG  ROG.S , Pfizer Inc  PFE.N , Merck and Co
Inc  MRK.N  and Johnson and Johnson  JNJ.N  have all previously
failed in their attempts to develop treatments for the
memory-robbing disease.  urn:newsml:reuters.com:*:nL3N2182A9
    The company's shares were trading down 77% at $1 in
premarket trading.

 (Reporting by Manojna Maddipatla in Bengaluru
Editing by Saumyadeb Chakrabarty)
 ((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
223 8780, outside the U.S. +91  80 6749 1692;))