Medivation/Pfizer's disappointing Dimebon data sends Alzheimer's hopes, and shares, crashing
This article was originally published in Scrip
Medivation/Pfizer's experimental Alzheimer's disease drug Dimebon (latrepirdine), failed to differentiate from placebo and met none of its endpoints, show top-line results of the first Phase III efficacy trial, dashing the hopes of doctors, patients and analysts alike. Although Medivation's share price spiked on investor anticipation prior to the release of the study results, it plummeted by more than 65%, to $13.10 on Nasdaq on March 3rd, on the news. Pfizer's shares fell by 1.6%, to $17.32, on the NYSE.