vTv Therapeutics (VTVT) said after markets closed on Monday results from part A of the company’s phase 3 Steadfast study of the investigational medication azeliragon in people with mild Alzheimer’s disease did not meet either co-primary efficacy endpoint.
Shares plunged 70% off a trading halt.
Patients taking azeliragon compared with placebo did not improve in cognitive or functional outcomes, the company said in a statement.
The Steadfast study is comprised of two independent and identical randomized, double-blind, placebo-controlled late-stage trials (part A and part B).
vTv Therapeutics said it is discontinuing current clinical studies involving azeliragon, including the open-label extension study and Part B of the Steadfast study.