Chardan downgraded CervoMed (CRVO) to Neutral from Buy without a price target after the company announced topline data from the Phase 2b RewinD-LB of neflamapimod, its only clinical stage asset, in dementia with Lewy bodies. Neflamapimod did not meet the study’s primary or secondary endpoints. The firm cites the failed Phase 2b trial and no clear path forward for neflamapimod for the downgrade.
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