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Neurochem drug falls short Add to ...

Neurochem Inc. is heading for an ugly opening on Monday after the drug developer confirmed that its highly touted Alzhemed drug did not reach significance in a pivotal study to treat North American patients with Alzheimer's disease. The disappointing "top-line" outcome for Alzhemed followed earlier approvals by the FDA to adjust the study's statistical model in favour of the drug, which is still under going a pivotal study in Europe. "In our view, the entire program remains in question," UBS analyst Annabel Samimy writes, as she reiterated a "sell" rating and price target of $4.50 (U.S.). Neurochem finished Friday's Nasdaq session at $5.56.


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