Shares of Sage Therapeutics (SAGE.US) are plunging today. Company is one of the worst performing Wall Street stocks today, plunging over 20% at press time. The move lower was triggered after company released results of mid-stage study of its experimental dalzanemdor treatment for Parkinson's disease. Company said that the study failed to meet its main goal and did not show any statistically significant differences between the treatment and placebo.
Sage Therapeutics said that it does not plan any further development of dalzanemdor treatment for Parkinson's disease. Results of the Phase 2 studies in Huntington's and Alzheimer's diseases are expected in the later part of 2024.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appTaking a look at Sage Therapeutics (SAGE.US) chart at D1 interval, we can see that the stock has recently plunged below the $16.50 support zone and continues to move lower. A massive plunge today pushed the stock below $11 per share for the first time in history. However, a part of the drop has been recovered and the stock trades off the daily lows now.
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
