Sage plummets as co to stop Parkinson's drug development after mid-stage study fail

Sage Therapeutics

17/04/2024 13:08

(Updates)
    ** Shares of Sage Therapeutics  SAGE.O  fall 20.03% to
$12.60 premarket
    ** Stock among top pct. losers across U.S. exchanges before
the bell
    ** 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
    ** 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
     ** Parkinson's disease is a brain condition that causes
problems with movement, mental health, sleep, pain and other
health issues
    ** Up to last close, stock down ~28% YTD

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