Axovant’s Alzheimer’s drug fails late-stage trial

(Reuters) – Axovant Sciences Ltd said on Tuesday its experimental drug targeting Alzheimer’s patients failed to meet the main goals in a late-stage trial.

The drug, intepirdine, was being tested in patients with mild to moderate Alzheimer’s who did not respond to initial therapy, and was compared with a placebo.

Shares of the company were halted in premarket trading on Tuesday.

Reporting by Divya Grover; Editing by Sriraj Kalluvila