Avoxant’s Alzheimer’s therapy fails clinical trial and shares lose 70%

Axovant Sciences today announced in a press release that intepirdine, its investigational Alzheimer’s therapy, has not shown any benefit vs placebo in the Phase III MINDSET trial, conducted on 1,150 patients. Axovant had acquired the rights to intepirdine from GSK in 2014, for as little as $5m. Companies searching for an efficient therapy for this devastating disease are facing hard times – indeed, over the last few months, other drugmakers such as Eli Lilly, Merck, Pfizer and Lundbeck have posted disappointing clinical results for therapies developed after years of research and large investments. Four Alzheimer’s therapies are currently available and the most recent was approved 13 years ago. The market has immediately reacted to the bad news (NASDAQ), and the company has lost over 70% in pre-market trading. (Source: Axovant)