Sage Therapeutics halts Alzheimer’s drug development after trial fails; shares tank (updated)

Sage Therapeutics

08/10/2024 12:02

(Adds trial details in paragraphs 2 and 3, adds shares)
       Oct 8 (Reuters) - Sage Therapeutics  SAGE.O  said on
Tuesday it would discontinue the development of its experimental
drug for Alzheimer's disease as it did not meet the main goal in
a mid-stage trial, sending its shares down about 20% to $5.30 in
premarket trading.
        In the trial of 174 patients, the drug, dalzanemdor, did
not show a statistically significant difference, compared to a
placebo, when evaluated as a treatment for mild cognitive
impairment and mild dementia in individuals with Alzheimer's
disease.
  
        The company said it will continue to test dalzanemdor as
a treatment for Huntington’s disease and expects to report its
mid-stage trial data later this year.
  

 (Reporting by Christy Santhosh in Bengaluru; Editing by Pooja
Desai)
 ((Christy.Santhosh@thomsonreuters.com;))