U.S. Markets open in 1 hr 7 mins

  • S&P Futures

    4,063.25
    +58.50 (+1.46%)
     

  • Dow Futures

    32,527.00
    +368.00 (+1.14%)
     

  • Nasdaq Futures

    12,470.75
    +226.00 (+1.85%)
     

  • Russell 2000 Futures

    1,812.50
    +30.10 (+1.69%)
     

  • Crude Oil

    115.06
    +0.86 (+0.75%)
     

  • Gold

    1,833.60
    +19.60 (+1.08%)
     

  • Silver

    21.74
    +0.19 (+0.88%)
     

  • EUR/USD

    1.0539
    +0.0100 (+0.9590%)
     

  • 10-Yr Bond

    2.8770
    0.0000 (0.00%)
     

  • Vix

    26.57
    -2.30 (-7.97%)
     

  • GBP/USD

    1.2482
    +0.0159 (+1.2869%)
     

  • USD/JPY

    129.3350
    +0.2820 (+0.2185%)
     

  • BTC-USD

    30,441.64
    +801.61 (+2.70%)
     

  • CMC Crypto 200

    684.48
    +441.80 (+182.05%)
     

  • FTSE 100

    7,523.48
    +58.68 (+0.79%)
     

  • Nikkei 225

    26,659.75
    +112.70 (+0.42%)
     

Cortexyme Stock Plunges On FDA Hold On Atuzaginstat's IND

  • Oops!
    Something went wrong.
    Please try again later.
Vandana Singh
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • CRTX

The FDA has placed a clinical hold on Cortexyme Inc's (NASDAQ: CRTX) atuzaginstat (COR388) Investigational New Drug application (IND 134303).

  • The Company plans to provide additional updates pending continued engagement with FDA.

  • Cortexyme is immediately implementing a cost reduction program to rationalize operations, providing an expected cash runway through 2024.

  • Related content: Benzinga's Full FDA Calendar.

  • The Company intends to prioritize the development of its next-generation gingipain inhibitor, COR588, in Alzheimer's disease.

  • COR588 is currently completing a Phase 1 SAD/MAD study, and results are expected in Q2 of 2022.

  • In addition, Cortexyme plans to explore strategic alternatives for its coronavirus program and non-Alzheimer's indications for COR388.

  • In November last year, the Company presented data from Phase 2/3 GAIN Trial of atuzaginstat in Alzheimer's Disease.

  • The 643-participant 48-week trial failed to meet statistical significance on its co-primary cognitive and functional endpoints in the overall cohort.

  • Price Action: CRTX shares are down 34.0% at $5.98 during the premarket session on the last check Wednesday.

See more from Benzinga

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Recommended Stories

  • Warren Buffett says these are the best stocks to own when inflation spikes — with consumer prices still surging, it's time to follow his lead

    The Oracle of Omaha knows how to beat inflation. So ride his coattails.

  • 2 Beaten-Down Stocks Insiders Are Buying Heavily

    The last few months, with the exception of some short bullish trading runs, have been brutal for the markets. Stocks are down, pretty much across the board. The tech-heavy NASDAQ index has fallen 25% year-to-date, while the broader S&P 500 is down 16%. As for causes to the market turndown, you can take your pick. Supply chains remain snarled, and the Chinese government’s anti-COVID lockdown policies and the Russian war against Ukraine aren’t helping that matter any. Inflation, which started taki

  • Why Tonix Pharmaceuticals Stock Dived by Over 31% Today

    All stocks have bad days at least once in a while, but Monday for Tonix Pharmaceuticals (NASDAQ: TNXP) was one of the ugliest trading sessions in its history. The company's stock lost nearly one-third of its value after the company announced a financial engineering move that sent investors scrambling for the exits. Tonix announced Monday afternoon that it is effecting a 1-for-32 reverse split of its common stock.

  • Dow futures up nearly 400 points ahead of retail sales and comments from Fed’s Powell

    Investors are in a bullish mood Tuesday as U.S. retail sales data awaits, along with plenty of Fedspeak, including from Chairman Jerome Powell.

  • $300 a Month in These 3 Stocks Could Make You a Millionaire by Retirement

    To achieve this goal through the stock market, investors can purchase index funds, individual stocks, or a combination of the two. Because index funds track indexes like the S&P 500 or Nasdaq-100, they are widely diversified and move in smaller increments. Using a combination of these two methods can help investors meet their goal of becoming a millionaire by retirement.

  • Tesla stock pops as Elon Musk hints he could scrap Twitter deal

    Tesla shares cheer Elon Musk potential scrapping his deal for Twitter.

  • Putin Sets Russians on Wild Hunt for Dollars in Black Market

    (Bloomberg) -- As the ruble’s official exchange rate parts ways with its value on the street, dollars are becoming hard to find. Most Read from BloombergMeet the Hedge-Fund Manager Who Warned of Terra’s $60 Billion ImplosionOmicron Is Turning Out to Be a Weak VaccineOne-Time Richest Singapore Tycoon Has Lost 80% of His FortuneU.S. Stocks Extend Losses in Late Session Selloff: Markets WrapMusk Says Twitter Deal at Lower Price Is ‘Not Out of the Question’For Boris, a doctor based in Moscow, the se

  • Michael 'Big Short' Burry Shorts Apple

    Infamous investor Michael Burry of "The Big Short" has bet against Apple ( ), according to a SEC filing. During the first quarter, Burry, a hedge fund investor who is known for predicting and profiting from the housing bubble and subprime mortgage crisis by betting against collaterized debt obligations or CDOs during the mid 2000s, stocked up on Alphabet ( ), Meta Platforms (FB), and Discovery ( ) for Scion Asset Management. The hedge fund owned bearish put options against 206,000 Apple shares as of March 31.

  • Energy Transfer's Perseverance Is About to Pay Off Big Time

    Energy Transfer (NYSE: ET) has a long history of developing infrastructure projects to support growing energy demand. The company has built thousands of miles of pipelines, multiple oil and gas processing facilities, and several storage and export terminals over the years. The master limited partnership (MLP) currently expects to invest upwards of $2.1 billion this year in expanding its energy infrastructure network.

  • UPDATE 1-Buffett's Berkshire buys Citigroup and several other stocks, slashes Verizon

    Berkshire Hathaway Inc on Monday said it added new investments in Citigroup Inc and several other companies in the first quarter, as Warren Buffett's conglomerate took advantage of volatile stock markets to invest $51.1 billion that had largely been sitting in cash. In a regulatory filing describing its U.S.-listed equity investments as of March 31, Berkshire reported new stakes in Ally Financial Inc, chemicals and specialty materials company Celanese Corp, insurance holding company Markel Corp, drug distributor McKesson Corp and Paramount Global, formerly known as ViacomCBS.

  • SpaceX Employees Offer to Sell Shares at $125 Billion Valuation

    (Bloomberg) -- SpaceX employees are offering to sell shares via a private placement that would value Elon Musk’s launch and satellite company at around $125 billion, according to people familiar with the matter.Most Read from BloombergMeet the Hedge-Fund Manager Who Warned of Terra’s $60 Billion ImplosionOmicron Is Turning Out to Be a Weak VaccineOne-Time Richest Singapore Tycoon Has Lost 80% of His FortuneU.S. Stocks Extend Losses in Late Session Selloff: Markets WrapMusk Says Twitter Deal at L

  • Is Now The Time To Look At Buying Paramount Global (NASDAQ:PARA)?

    Paramount Global ( NASDAQ:PARA ) saw significant share price movement during recent months on the NASDAQGS, rising to...

  • When Will Nu Holdings Ltd. (NYSE:NU) Become Profitable?

    With the business potentially at an important milestone, we thought we'd take a closer look at Nu Holdings Ltd.'s...

  • Home Depot Earnings Unexpectedly Rise Despite Inflation Headwinds

    Home Depot earnings and sales defied Q1 views for a decline. Home Depot stock rose early Tuesday. Lowe's earnings are due Wednesday.

  • Nasdaq Bear Market: 3 Extremely Safe High-Yield Dividend Stocks You Can Confidently Buy

    These passive income powerhouses, with yields ranging from 4.8% to 7.1%, can pad investors pockets during a volatile bear market.

  • The Real Reason Gasoline And Diesel Prices Are So High

    High fuel prices caused by dwindling supply and growing demand are a major problem for the economy, but no one can figure out who exactly is to blame

  • We are in the 'first inning' of EV charger buildout: Charge CEO

    Consumers (and investors) frustrated by a lack of electric vehicle (EV) chargers will be hoping companies like Charge Enterprises can keep its growth going. The newly-public EV charging infrastructure company reported first quarter revenue of $163.0 million, a jump of nearly 47% from a year ago.

  • Nasdaq Sell-Off: 3 Growth Stocks You'll Regret Not Buying on the Dip

    The Nasdaq-100 stock market index, which represents the technology sector, has officially entered a bear market. Three Motley Fool contributors think Tesla (NASDAQ: TSLA), PubMatic (NASDAQ: PUBM), and Upstart Holdings (NASDAQ: UPST) are oversold, and represent great long-term value at their current prices. Here's why investors might regret missing this chance to buy when they look back a few years from now.

  • The Home Depot Announces First Quarter Results; Raises Fiscal 2022 Guidance

    The Home Depot®, the world's largest home improvement retailer, today reported sales of $38.9 billion for the first quarter of fiscal 2022, an increase of $1.4 billion, or 3.8 percent from the first quarter of fiscal 2021. Comparable sales for the first quarter of fiscal 2022 increased 2.2 percent, and comparable sales in the U.S. increased 1.7 percent.

  • Here’s what just happened that triggers stock market drops 71% of the time, warns Credit Suisse

    Is the bottom in? There's been a nice bounce since Thursday, but Credit Suisse isn't buying it.