By Colin Kellaher
Shares of AC Immune SA tumbled more than 15% in premarket trading Thursday after the clinical-stage biopharmaceutical company reported disappointing results from a study in Alzheimer's disease.
The Lausanne, Switzerland, company and its partner, Roche Holdings AG's Genentech unit, said the study evaluating the potential of the investigational drug crenezumab to slow or prevent Alzheimer's in cognitively unimpaired people who carry a specific genetic mutation that causes early onset of the memory-robbing disease missed its key goals.
The companies, which have been working together since 2005, said crenezumab didn't show a statistically significant clinical benefit in either of its co-primary endpoints assessing the rate of change in cognitive abilities or episodic memory function.
AC Immune and Genentech said small numerical differences favoring crenezumab were observed across the study's co-primary and multiple secondary and exploratory endpoints, but that they weren't statistically significant.
However, AC Immune said the differences, along with crenezumab's safety profile, warrant further analyses of the data.
AC Immune's U.S.-listed shares, which closed Wednesday at $2.86, were recently down 15.4% to $2.42 in premarket trading.
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires