Dalzanemdor (SAGE-718) showed no difference from placebo in a Phase II Parkinson’s disease study, raising concerns about readouts later this year in Huntington’s and Alzheimer’s diseases.

Just over six months after getting a complete response letter for its prodrug carbidopa and levodopa combination product, the US major has acquired Mitokinin and its selective PINK1 activator which could potentially be a disease-modifying treatment for Parkinson’s disease.

Public Company Edition: Summit initiated the big rights offering earlier this year as promised in December when it licensed Akeso’s PD-1/VEGF bispecific. Also, Teva sold $2.49bn in sustainability-linked notes to pay down debt, while MorphoSys, Novavax and others restructured and cut jobs.

The US firm has faced yet another clinical setback as its Phase II candidate, NYX-458, failed to improve cognitive impairment in patients with Parkinson’s disease and Alzheimer’s, triggering the cessation of its only other program as priorities shift to preserving funds.