Contineum Therapeutics, Inc. (NASDAQ: CTNM) shares are trading lower on Tuesday following the release of Phase 2 trial results that did not meet the study's primary efficacy endpoint.
The company reported that its Phase 2 MOONLIGHT-1 trial failed to meet its primary efficacy goal for JNJ-5120 / PIPE-307 in the treatment of major depressive disorder. The drug candidate is being developed by Johnson & Johnson (NYSE: JNJ) under a global license and development agreement. Johnson & Johnson stated that it is currently evaluating the trial data, including data related to prespecified exploratory endpoints, to assess the totality and clinical relevance of the findings and determine next steps.
At the time of publication, Contineum Therapeutics shares were down 9.58% to $13.40, according to Benzinga Pro data.
