Synaptogenix falls as Alzheimer's drug fails to meet mid-stage study goal

TAO Synergies

16/12/2022 15:44

** Shares of drug developer Synaptogenix Inc  SNPX.O  down
~73% to an all-time low of $1.28; also set for their
biggest-ever one-day pct fall
    ** Company says the main goal of its drug Bryostatin-1 to
treat advanced Alzheimer's disease was not met in a mid-stage
study, sponsored by the National Institutes of Health
    ** Average increase in severe impairment battery (SIB) total
score assessment, which assesses skills of people with severe
dementia, was not met with statistical significance - SNPX
    ** Average increase in SIB total score of 1.4 points was
observed for drug vs 0.6 points for placebo groups at week 28 -
SNPX
    ** Company says it remains well-funded with about $38.5 mln
in cash as of Dec. 15
    ** Including session's loss, stock down ~86% YTD
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com))