MW Sage Therapeutics' stock slides after trial of Huntington's Disease treatment fails and company says it will end it

Sage Therapeutics Inc.'s stock (SAGE) fell 18% early Wednesday, after the company said a mid-stage trial of a treatment for cognitive impairment associated with Huntington's Disease failed to meet its main goal. The Phase 2 trial sought to evaluate dalzanemdor as a therapy for that patient group but failed to show statistically significant difference versus placebo at day 84. The trial also failed to meet secondary endpoints and the company is not planning further development. "We are disappointed by the results of the DIMENSION Study, especially for the individuals and families affected by Huntington's Disease who have long awaited new treatment options," Sage CEO Barry Greene said in prepared remarks. In October, Sage said it was cutting about 33% of its workforce as part of an overhaul of its business and pipeline that's expected to extend its cash runway. The stock has fallen 77% in the year to date, while the S&P 500 has gained 24%.

-Ciara Linnane

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November 20, 2024 06:43 ET (11:43 GMT)

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