AC Immune S.A. (NASDAQ: ACIU) stock was absolutely crushed on Wednesday after one of the firm’s partners announced disappointing results from its midstage Alzheimer’s disease study. Genetech, a member of the Roche Group, was the company reporting the topline results.
The results come from the Phase 2 trial of the anti-Tau antibody, semorinemab, in early (prodromal to mild) Alzheimer’s. Unfortunately, semorinemab did not meet its primary efficacy endpoint of reducing decline on Clinical Dementia Rating-Sum of Boxes (CDR-SB) compared to placebo.
The two secondary endpoints, Alzheimer’s Disease Assessment Scale-Cognitive Subscale 13 (ADAS-Cog13) and Alzheimer’s Disease Cooperative Study Group – Activities of Daily Living Inventory (ADCS-ADL) were also not met.
The study followed 457 participants across 97 study centers. The study did not meet the primary efficacy endpoint of reducing decline on CDR-SB compared to placebo, but it did meet the primary safety endpoint.
Overall, the incidence of adverse events was similar between semorinemab and placebo arms, and further analysis of these safety data are currently underway.
Looking ahead, Genentech plans to present the results from the study at an upcoming medical congress. The second Phase 2 (LAURIET) study of semorinemab, in a different patient population, moderate Alzheimer’s, is ongoing.
While this news is surprising and disappointing, the firm is optimistic. Management believes the full data analysis of this first-of-its-kind study will yield information about this promising target that will advance the understanding and inform future efforts to successfully develop effective therapeutics for neurodegenerative diseases.
Despite this shortcoming, the firm has funding through the first quarter of 2024, and it is looking to its pipeline in the meantime.
AC Immune stock traded down about 43% to $4.98 on Wednesday, in a 52-week range of $4.07 to $13.00. The consensus price target is $12.58.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
