After Disappointing Data, Johnson & Johnson Halts Developing Epilepsy Drug Candidate
Portfolio Pulse from Vandana Singh
Johnson & Johnson has halted the development of its epilepsy drug candidate ADX71149 after disappointing Phase 2 data. This decision has significantly impacted Addex Therapeutics, whose stock dropped nearly 50%. The partnership between the two companies continues as they analyze the full data set.
July 22, 2024 | 1:15 pm
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NEGATIVE IMPACT
Addex Therapeutics' stock tumbled nearly 50% after Johnson & Johnson halted the development of their joint epilepsy drug candidate ADX71149. The partnership continues as they analyze the full data set.
The discontinuation of the drug development has had a severe negative impact on ADXN's stock, which dropped nearly 50%. The ongoing partnership and further analysis may provide some future direction, but the immediate impact is highly negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Johnson & Johnson has halted the development of its epilepsy drug candidate ADX71149 after disappointing Phase 2 data. The partnership with Addex Therapeutics continues as they analyze the full data set.
The halting of the drug development could negatively impact JNJ's stock in the short term due to the failure to meet the primary endpoint in the Phase 2 study. However, the ongoing partnership and further analysis may mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80