Neurocrine Shifts Focus To New Schizophrenia Treatment After Luvadaxistat Trial Misses Endpoint
Portfolio Pulse from Vandana Singh
Neurocrine Biosciences' phase two trial of luvadaxistat for schizophrenia failed to meet its primary endpoint, leading the company to halt its development. Instead, Neurocrine will focus on advancing NBI-1117568 for schizophrenia and NBI-1065845 for major depressive disorder. Despite the setback, analysts maintain an Outperform rating on the stock, citing potential in other areas.
September 13, 2024 | 4:00 pm
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Neurocrine Biosciences' luvadaxistat trial for schizophrenia failed, leading to a shift in focus to other treatments. Despite this, analysts maintain an Outperform rating, highlighting potential in other areas.
The failure of the luvadaxistat trial is a setback, but the company's decision to focus on other promising treatments and the analyst's Outperform rating suggest a neutral short-term impact on the stock price. The stock's recent price increase indicates investor confidence in the company's broader strategy.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100