Shares of the American company Cortexyme – Alzheimer’s medicine developer – collapsed by 76.58 percent per day according to the results of the bidding on October 27, after testing the test. It is reported by Bloomberg.
Securities fell to 13.51 dollars per piece. Moreover, the value of the shares was first lower than the price at IPO – $ 17.
During the test, it turned out that the drug was not more effective than placebo. CortexyMe has published the test results of ATUZAGINSTAT (atuzaginstat), which fights the bacterium P. Gingivalis, found in the brain of people suffering from Alzheimer’s disease. Tests on 643 volunteers, among which were patients with Alzheimer’s disease from mild to moderate severity, did not have the effect on the cognitive abilities of people and their ability to cope with everyday tasks.
Shares of some biotechnology companies that are struggling with Alzheimer’s disease, including CortexYMe, went up in 2021 several times after Aduhelm preparation from Biogen became the first approved medicine from the disease for almost 20 years.
Alzheimer’s disease – the reason for about 60 percent of dementia cases. It is characterized by a sharp decrease in intellectual abilities. Among the main symptoms is a deterioration in memory, concentration attention, violation of cognitive processes, loss of orientation in time and space. In most cases, people are detected over 45 years old. With the emergence of Alzheimer, the work of the cerebral cell cells and hippocampus are disturbed, which is responsible for the memory and formation of emotions.