After Sage Therapeutics announced the Phase 2 LIGHTWAVE study of dalzanemdor/SAGE-718 in mild cognitive impairment – MCI – or mild dementia due to Alzheimer’s Disease did not demonstrate statistical significance on the WAIS-IV primary endpoint, nor did it demonstrate any meaningful differences in exploratory endpoints, Stifel said the firm always viewed this study to be high-risk, especially following previous SAGE-718 failures earlier this year. However, the failure “removes yet another potential upside driver,” added the analyst, who has a Hold rating on Sage shares, which are down 72c, or 11%, to $6.00 in pre-market trading.
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