** Shares of drug developer CervoMed fall 71.3% to $2.90 premarket
** Co says its drug, neflamapimod, did not meet the main and secondary goals in a mid-stage trial testing it as a treatment for dementia with Lewy bodies $(DLB)$
** DLB is a form of dementia caused by the accumulation of protein deposits called Lewy bodies in the brain's nerve cells
** CRVO says the drug, neflamapimod, did not achieve the trial's main goal of significantly reducing symptoms of dementia
** CervoMed CEO John Alam says the company is pausing all preparations for its previously planned late-stage trial for the treatment until full analysis of the trial data is complete
** Up to last close, stock up 34.3% YTD
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))
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