HIGH POINT — VTV Therapeutics Inc. saw its stock price fall by more than 65 percent in after-market trading Monday after it disclosed disappointing results from the clinical trial of an experimental Alzheimer’s medication.
The High Point-based company announced that the Phase 3 clinical trial assessing the effects of the drug Azeliragon in patients with mild Alzheimer’s disease failed to achieve either co-primary endpoint.
The drug was intended to delay cognitive decline in patients.
Patients taking Azeliragon compared with placebo did not improve in cognitive or functional outcomes as measured by the Alzheimer’s disease assessment Scale-cognitive subscale and the Clinical Dementia rating scale, the company said in a statement.
Shares of VTV Therapeutics plunged 65 percent to $1.14, down $2.12 per share, in after-hours trading as of 6:15 p.m. The stock closed Monday at $3.26, down 16 cents or $4.7 percent.
“We will continue to analyze the datasets and trends within subgroups from both Part A and Part B to determine if there are potential benefits or future uses and applications for azeliragon,” said Chief Executive Officer Steve Holcombe in a statement.
“On behalf of vTv Therapeutics, we’d like to extend our most sincere and heartfelt gratitude to study participants, their families, physicians and caregivers for their commitment to this important study.”
The company began the Phase 3 trial in 2015 after nearly 20 years of research and development.
In an interview with Holcombe in January, he said the company would be in a position to go to the Food and Drug Administration in 2019 for new drug approval, pending positive results from the trial.
VTv Therapeutics announced the company will terminate all current clinical trials of azeliragon, which included two separate Phase 3 trials each with about 400 participants per trial.
More information about vTv Therapeutics can be found online.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
