Sage Therapeutics scraps Parkinson's drug development after treatment fails mid-stage study

[April 17, 2024]  (Reuters) - Sage Therapeutics said on Wednesday it will stop development of its experimental drug to treat Parkinson's disease after it failed a mid-stage study, sending the company's shares down 4% before the bell.

Parkinson's disease, a progressive movement disorder of the nervous system, affects about 1 million people in the United States.

Sage Therapeutics' drug, dalzanemdor, did not show statistically significant differences in patients with mild cognitive impairment due to Parkinson's compared to a placebo, the company said.

(Reporting by Mariam Sunny in Bengaluru; Editing by Shounak Dasgupta)

[© 2024 Thomson Reuters. All rights reserved.]This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.