Reuters – Drug developer Axovant Sciences Ltd said it would stop testing its lead drug in Alzheimer’s after it failed to meet the main goals of a late-stage trial, underlining the challenges in developing treatments for the memory-robbing disease.
The company’s shares tumbled 74.7 percent to a record low of $6.13 in morning trading on Tuesday.
Axovant’s once-daily oral drug, intepirdine, belongs to a class of drugs called 5-HT6 antagonist, which works by blocking the 5-HT6 receptor to help release acetylcholine, a neurotransmitter needed for normal cognition.
The latest failure raised serious doubts about the mechanism’s potential as a treatment for Alzheimer‘s, the most common form of dementia that affects about 5.5 million people in the United States.
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