AC Immune Down 43%; Semorinemab Didn't Meet Endpoint in Early Alzheimer's Disease
September 23 2020 - 1:30PM
Dow Jones News
By Michael Dabaie
AC Immune SA shares fell 43% to $4.97 in afternoon trading.
The company said before the market open that a Phase 2 trial of
semorinemab didn't meet the co-primary efficacy endpoint or two
secondary endpoints for early Alzheimer's disease. Swiss-based
clinical-stage biopharmaceutical company AC Immune said its
partner, Roche Group's Genentech, informed the company of the
top-line results of the trial, which showed the anti-Tau antibody
semorinemab didn't meet its co-primary goal of reducing the decline
on Clinical Dementia Rating-Sum of Boxes compared to a placebo.
The secondary endpoints of Alzheimer's Disease Assessment
Scale-Cognitive Subscale 13 and Alzheimer's Disease Cooperative
Study Group--Activities of Daily Living Inventory also weren't met,
AC Immune said.
The company said additional data analyses are ongoing and
Genentech plans to present the results from the trial at an
upcoming medical congress. The second Phase 2 study of semorinemab
in patients with moderate Alzheimer's disease remains ongoing, the
company said.
"This is clearly disappointing news for the company and for the
Alzheimer's community given that Tau has been increasingly viewed
as a promising target for treating AD," SVB Leerink said in a
note.
"Our view on this stock has not changed -- ACIU is still a great
way to get leverage to the AD space in a very diversified way
through multiple assets, multiple target approaches and modalities,
and multiple strong partners that pay for so much of the product
development that AC Immune has a very long runway of cash," the SVB
analyst note said. The firm maintained its Outperform rating on the
stock
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
September 23, 2020 13:15 ET (17:15 GMT)
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