By Chris Wack
CervoMed shares were up 28% to $8.27 after the company said it saw positive results from a Phase 2b trial for neflamapimod.
The clinical-stage company on Monday said that, following "highly encouraging" 16-week extension results from the Phase 2b trial, it believes it has established proof-of-concept for neflamapimod as a potential treatment for dementia with Lewy bodies.
The Boston-based company said it is now focusing on reporting the results from a 32-week extension phase in the second half of 2025, and on discussing next steps on Phase 3 trial design with regulatory authorities.
Initial safety, biomarker and pharmacokinetic data from an ongoing trial in patients with a mild-to-moderate form of the disease, who are being treated with a twice-daily regimen of neflamapimod in the study, is expected to be available in the fourth quarter.
CervoMed also said that as of Dec. 31 it had $38.9 million in cash, cash equivalents and marketable securities, compared with $7.8 million as of Dec. 31, 2023. This increase was primarily attributable to the upfront proceeds received in CervoMed's private placement completed in April 2024, the company said.
Based on its current operating plan, CervoMed believes its cash, cash equivalents and marketable securities on hand will enable it to fund its planned operating expenses and capital-expenditure requirements into mid-2026.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 17, 2025 12:59 ET (16:59 GMT)
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