Billionaire Perelman’s VTv Sinks on Alzheimer’s Drug Setback
- Medicine appeared to make symptoms worse compared with placebo
- VTv Therapeutics stock drops to lowest since October 2018
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VTv Therapeutics Inc. plunged as much as 35% on Wednesday, the biggest drop for the biotech in more than two years, after an experimental medicine failed to slow cognitive impairment in Alzheimer’s patients.
In fact, patients with mild symptoms of the disease who got VTv’s drug, azeliragon, suffered a greater decline than those getting a placebo in the 43-person study. Those who got the medicine saw their cognitive function drop by 1.8 points on a measure known as the ADAS-cog14 test, while placebo patients saw a 0.35 decline, the company said in a statement.