Axovant's stock tumbles toward record low after disappointing drug trial results [MarketWatch]
Axon Enterprise, Inc. (AXON)
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Source: MarketWatch
Axovant's stock tumbles toward record low after disappointing drug trial results Shares of Axovant Sciences Ltd. AXON, -48.79% plunged 46% toward a record low in premarket trade Monday, after the biopharmaceutical company said it would discontinue its intepirdine program for the treatment of dementia after it failed to meet its primary efficacy endpoints in a phase 2 trials. "Based on the totality of intepirdine data to date, there is no evidence to support its further development," said Chief Executive David Hung. "We are incredibly disappointed and saddened for the millions of people living with these difficult conditions, and are deeply grateful to the patients, caregivers and investigators who participated in our trials." Separately, the company said its investigational drug nelotanserin met its primary safety endpoing in a phase 2 visual hallucination study. The stock has tumbled 24% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF IBB, -1
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AXON
Earnings
- 2/27/24 - Beat
AXON
Sec Filings
- 4/19/24 - Form POSASR
- 4/15/24 - Form DEFA14A
- 4/15/24 - Form DEFA14A
- AXON's page on the SEC website