Sage Therapeutics, Inc. (SAGE) announced on Tuesday that its Phase 2 LIGHTWAVE study, aimed at assessing the efficacy of dalzanemdor in individuals with mild cognitive impairment or mild dementia due to Alzheimer's Disease, did not achieve its primary objective. Consequently, the company's stock experienced a decline of over 12 percent in pre-market trading.
The trial found that there was no statistically significant improvement in the Wechsler Adult Intelligence Scale Fourth Edition (WAIS-IV) Coding Test scores at Day 84 for participants receiving dalzanemdor compared to those given a placebo. This test evaluates visual-motor coordination, motor and mental speed, and visual working memory.
Following these results, Sage Therapeutics has decided to discontinue further studies of dalzanemdor in the context of Alzheimer's Disease.
The company anticipates releasing topline results later this year from the Phase 2 DIMENSION Study, which is investigating dalzanemdor in individuals with cognitive impairment related to Huntington's Disease.
The previous day's close saw Sage Therapeutics' stock at $6.72, marking a 1.2 percent increase. Over the past year, the stock has fluctuated between $6.45 and $28.26.
