Axovant plummets after intepirdine AD miss

Axovant Sciences Ltd. (NYSE:AXON) fell $17.92 (74%) to $6.33 on Tuesday after discontinuing development of intepirdine (RVT-101) to treat mild to moderate Alzheimer’s disease after the product missed the co-primary endpoints in the Phase III MINDSET trial in the indication. Despite the miss, the company said it will continue development of the serotonin (5-HT6) receptor antagonist to treat dementia with Lewy bodies (DLB).

In MINDSET, once-daily 35 mg oral intepirdine failed to significantly improve AD Assessment Scale-Cognitive subscale (ADAS-Cog) (placebo-adjusted improvement of 0.36 points, p=0.22) and AD Cooperative Study-Activities of Daily Living (ADCS-ADL) (placebo-adjusted improvement of 0.09 points, p=0.83) scores from baseline to week 24 vs. placebo. Intepirdine did meet the secondary endpoint of improving Clinician Interview-Based Impression of Change plus Caregiver Input (CIBIC-plus) vs. placebo (placebo-adjusted improvement of 0.12 points, p=0.02). The trial enrolled 1,315 patients ages 50-85 with mild to moderate AD on background donepezil...