GeNeuro touts a mixed set of extension data in a shot at salvaging their failed mid-stage MS drug

Geneva-based GeNeuro managed to earn a spike in its share price after touting a distinctly mixed set of Phase IIb extension data for their failed multiple sclerosis drug temelimab.

Bullishly encouraging in their look at whether the drug could influence disease progression, the trial failed to hit statistical significance for several key endpoints, including a lower probability for a confirmed 12-week worsening in disability relative to the control group, where the p-value for the high dose hit 0.34. The p-value for the reduction of brain atrophy in the cortex — a biomarker for the disease — also fell short, at 0.058, with atrophy in the thalamus crossing the line at a positive 0.038.

Also on the positive side was a maintenance of myelin integrity and what they called a preservation of walking ability, with a significantly smaller group in the high dose worsening at a rate greater than 20%.

But, there’s a caveat on the clinical data:

While these clinical measures are very encouraging, the limited size and relapsing nature of the cohort for clinical progression measures does not allow to derive any definitive conclusion.

GeNeuro mounted the extension study in an attempt to salvage some value in the program after Servier walked on their collaboration deal for the drug after the biotech conceded that the Phase IIb trial was a failure.

None of that seemed to put off investors this morning. The biotech’s shares (Paris: $GNRO) jumped 31% this morning.

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