Sage hits record low as Parkinson's drug development halted after mid-stage study fail

Sage Therapeutics

17/04/2024 18:43

(Updates)
    ** Shares of Sage Therapeutics  SAGE.O  fall 20.4% to a
record low of $12.43
    ** Co says its experimental drug Dalzanemdor failed to meet
its main goal in a mid-stage study in people with mild cognitive
impairment in Parkinson's Disease
    ** Based on the result, the company does not plan any
further development of the drug for Parkinson's Disease, a brain
condition that affects motor function
    ** The drug did not show statistically significant
differences versus placebo on a testing score that measures the
cognitive ability
    ** The study enrolled a total of 86 participants and was
designed to evaluate the safety and efficacy of Dalzanemdor
dosed over 6 weeks
        ** Analysts at William Blair said today's trial failure
adds incremental risk to the upcoming trials testing the drug in
patients with Alzheimer's and Huntington's disease
  
    ** Including session's move, stock down ~43% YTD

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