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Contineum Therapeutics Shares Fall After Depression Drug Misses Phase 2 Trial Endpoint
Contineum Therapeutics Inc. (NASDAQ:CTNM) shares fell 8% in after-hours trading on Monday after the company announced its Phase 2 trial for a major depressive disorder treatment failed to meet its main objective.
The company reported that the MOONLIGHT-1 trial for its drug candidate, JNJ-5120/PIPE-307, did not achieve its primary efficacy endpoint. The study was designed to evaluate improvement from baseline on the Montgomery-Åsberg Depression Rating Scale (MADRS) at Day 5 compared to a placebo.
Trial Details and Next Steps
Despite missing its primary goal, Contineum stated that JNJ-5120/PIPE-307 was well-tolerated and showed no new safety signals during the trial. The drug is being developed under a global license and development agreement with Johnson & Johnson.
According to the announcement, Johnson & Johnson is continuing to analyze the complete trial data. This includes results from prespecified exploratory endpoints, which will be used to assess the overall clinical relevance of the findings and determine the next steps for the drug candidate's development.
AdStudy Background
The MOONLIGHT-1 study was a randomized, double-blind, multicenter, and placebo-controlled proof-of-concept trial. Its purpose was to evaluate the efficacy, safety, and tolerability of the drug as a monotherapy in adults with major depressive disorder.
Contineum Therapeutics is a clinical-stage biopharmaceutical company that focuses on developing small molecule therapies for inflammatory and fibrotic diseases. The outcome of this trial represents a setback for its pipeline in central nervous system disorders.
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