Sage falls on plans to stop development of Alzheimer's disease drug

Sage Therapeutics

08/10/2024 11:54

** Shares of Sage Therapeutics  SAGE.O  down 13% at $5.86
before the bell
    ** SAGE plans to stop further development of its
experimental drug, dalzanemdor, for Alzheimer's disease after it
failed to meet the main goal of a mid-stage study 
    ** Dalzanemdor was being tested to treat mild cognitive
impairment or mild dementia due to Alzheimer's disease
    ** In the 174-participant study, the drug did not show a
statistically significant difference in patients versus placebo
as measured on a widely used scale of cognitive ability 
    ** Co says the drug was generally well-tolerated, and no new
safety signals were observed in the study 
    ** SAGE is also testing the drug in patients with cognitive
impairment associated with Huntington's disease - plans to
report mid-stage data later this year
    ** As of last close, SAGE down ~69% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))