Denali Therapeutics Shares Fall After ALS Treatment Misses Primary Endpoint
By Sabela Ojea
Shares of Denali Therapeutics on Friday fell after the company said the Phase 2 Himalaya study to treat patients with its amyotrophic lateral sclerosis (ALS) with an oral brain-penetrant inhibitor missed the primary endpoint.
In recent trading, shares were down 7.4% to $17.01. The stock has dropped 22% since the beginning of the year, and 45% in the past 12 months.
The biotechnology company said the SAR443820/DNL788 inhibitor, co-developed with Sanofi, didn't meet the endpoint of change in ALS functional rating scale-revised.
Sanofi will continue to conduct the K2 Phase 2 study of SAR443820/DNL788 in participants with multiple sclerosis.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 16, 2024 11:40 ET (16:40 GMT)
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