** Shares of drug developer Denali Therapeutics fall 6.7% to $18.50 premarket
** Co late on Monday said its experimental ALS drug failed to meet the main goal of a mid-to-late stage study
** Amyotrophic lateral sclerosis (ALS) is a fatal neurodegenerative disease
** Co said the drug, DNL343, did not demonstrate a change in disease severity over time and in survival compared to placebo
** The drug also did not meet key secondary goals of statistically significant improvements in muscle strength and respiratory function
** Brokerage H.C. Wainwright cuts PT to $87 from $90, says "the results are not shocking given the complexities of conducting a perfect ALS trial"
** Up to last close, stock had fallen 5% in 2024
(Reporting by Sneha S K)
((Sneha.SK@thomsonreuters.com;))
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