(Reuters) -Sage Therapeutics 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 12% to $5.89 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.
This is the latest setback for the company after it discontinued the development of its neurological disorder drug, zurzuvae, with partner Biogen, for treating clinical depression, for which it could not secure approval from the U.S. Food and Drug Administration.
Sage 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.
Shares of the company have fallen about 69% this year up to Monday’s close.
(Reporting by Christy Santhosh in Bengaluru; Editing by Pooja Desai)
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