Alzheimer’s drug developers are on decline after Roche setback
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A group of low cap biotechs is leading a selloff among Alzheimerâs drug developers after Roche (OTCQX:RHHBY) (OTCQX:RHHBF) announced on Thursday that one of its experimental drugs for the memory robbing disease did not meet key goals in a mid-stage trial.
Discovered by the fellow Swiss biotech AC Immune (NASDAQ:ACIU), the investigational monoclonal antibody crenezumab was designed to target beta-amyloid, a key protein involved in the Alzheimerâs pathology.
The 252-subject trial conducted in Colombia was designed to evaluate the impact of crenezumab on the delay or prevention of Alzheimerâs disease in people who carry a specific genetic mutation that can cause the early onset of disease.
Roche (OTCQX:RHHBY) remains on track to report late-stage data for another Alzheimerâs candidate called gantenerumab in 4Q 2022.
However, the trial failure has hurt even rival developers after multiple setbacks in the Alzheimerâs space in recent months. Leading decliners in the morning hours include Alector (ALEC), INmune Bio (INMB), Prothena Corporation (PRTA), Cortexyme (CRTX) and Anavex Life Sciences (AVXL)
Aduhelm, an FDA-approved Alzheimerâs therapy developed by Biogen (BIIB) and Japanese drugmaker Eisai (OTCPK:ESALF) (OTCPK:ESALY), failed to gain payer coverage this year, and the U.S. biotech said it would halt commercial activities for the anti-amyloid therapy in May.