CervoMed downgraded to Hold from Buy at D. Boral Capital

D. Boral Capital downgraded CervoMed (CRVO) to Hold from Buy and removed the firm’s prior price target after the company reported that the Phase 2b RewinD-LB trial of neflamapimod in dementia with Lewy bodies showed no statistically significant benefit over placebo on primary or secondary endpoints. The firm is lowering its rating given these “disappointing outcomes and the pause on Phase 3 preparations,” pending further clarity on the drug’s development pathway and updated data expected in mid-2025, the analyst tells investors.