Neurotrope, Inc. (NASDAQ:NTRP) is not starting the week off on the right foot. After announcing that its Alzheimer’s drug failed in its latest trial, NTRP stock tumbled around 80% Monday.
Here’s what we know.
NTRP Stock Plunges 80%
On Monday, September 9, drug developer Neurotrope said its mid-stage Alzheimer’s study did not meet its main goals. According to the US company, its treatment for Alzheimer’s, called Bryostatin-1, did not show a difference in the sample size after 13 weeks compared to those patients who were on a placebo.
Bad news as is, but this is also the second time in a little more than two years that the company’s experimental treatment for Alzheimer’s disease did not meet its targets. As a result, many are now questioning the future of the drug. And that’s evident in the way NTRP stock is performing hours after the news hit the market.
At the time of writing, NTRP stock is trading at $0.88 on the Nasdaq Exchange, which puts NTRP stock down 80%.
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It’s not just the market that is frustrated, either. “We are disappointed in the topline results from the confirmatory Phase II study,” stated Neurotrope’s CEO Charles S. Ryan. “Having just received the data, we are conducting a full review to determine potential next steps and will provide an update of our plans when appropriate. We sincerely thank the patients, physicians, study coordinators and the entire Neurotrope team for their support of this novel study.”
Positives are Needed
Surely this is a blow to Neurotrope investors, but does it mean the company is in trouble moving forward? Not necessarily, but NTRP is likely going to have to do some work to regain investor confidence after failing twice in two years to meet treatment standards.
What do you think of the news? Do you think NTRP stock will continue to plunge Monday? Let us know your thoughts in the comments below.
Featured image: PixaBay
