From thestreet
[The Lundbeck drug, idalopirdine, failed to improve the cognition of mild to moderate Alzheimer's patients when added to donepezil, a current Alzheimer's medicine, Lundbeck said Thursday.]
[The company, in its statement, said idalopirdine showed a "weak efficacy profile" in the phase III study, although the drug was safe and well tolerated.
Idalopirdine belongs to a class of Alzheimer's drugs known as 5-HT6 antagonists.
Axovant is developing a competing 5-HT6 antagonist, intepiridine, currently in a phase III study.
Axovant shares tumbled 23% to $13.22 soon after the Lundbeck drug failure was announced.]
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