Lundbeck, Otsuka take the latest hit on Alzheimer’s as PhIII drug flops
Denmark’s Lundbeck has just racked up the latest R&D disaster in Alzheimer’s, reporting that its first Phase III study for its 5-HT6 agonist idalopirdine failed.
Weak efficacy scuttled its attempt to hit the primary endpoint on cognition for both doses in the study. And the drug (Lu AE58054) also flopped on the secondary goals, making this a complete rout.
That’s bad news for Axovant $AXON, which also has put a 5-HT6 therapy into pivotal studies after snatching it from GlaxoSmithKline, which recorded a series of trial failures before abandoning the therapy. Axovant enjoyed a blockbuster IPO with its high-risk foray into the field at the height of the biotech boom. Axovant’s shares took a sharp dive — dropping more than 20% — when the news broke today.
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