Shares of commercial-stage biopharmaceutical company MorphoSys (NASDAQ:MOR) are tanking in the pre-market session today after partner Roche (RHHBY) reported that its drug gantenerumab failed to meet the primary endpoint in the GRADUATE studies for the treatment of Alzheimer’s disease.
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The drug was not able to demonstrate a slowing clinical decline and the level of beta-amyloid removal came in lower than anticipation.
Topline findings from the studies are expected to be presented on November 30 at the Clinical Trials on Alzheimer’s Disease (CTAD) conference.
Shares of the company are down ~44% year-to-date.
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