Clinical Trial ResultsFosgonimeton failed to meet primary endpoints in the LIFT-AD Phase 2/3 trial and development of the candidate has been discontinued.
Cost-Cutting MeasuresThe company announced cost-cutting measures, including a workforce reduction of 70%, which extends projected cash runway through the first quarter of 2026.
Stock PerformanceThe stock traded off approximately 75% after market and at this level is trading at about 35% of cash at the end of August.