Why Are Cortexyme Shares Falling Today?

Cortexyme Inc CRTX has presented additional data from its Phase 2/3 GAIN Trial at the Clinical Trials on Alzheimer's Disease Conference.
The 643-participant 48-week GAIN Trial failed to meet statistical significance on its co-primary cognitive and functional endpoints in the overall cohort.
But, the study data showed that treatment with atuzaginstat slowed decline compared to placebo on most clinical endpoints in prespecified populations selected based on P. gingivalis infection markers.
The results showed that the 40 mg BID arm demonstrated equivalent or better efficacy across key endpoints than the higher dose, 80 mg BID, and a superior safety profile.
Across critical safety measures, the 40 mg BID treatment arm rates were either comparable to placebo or substantially better than in the 80 mg BID arm.
Atuzaginstat was associated with dose-related liver enzyme elevations - 2% on placebo, 7% on 40 mg BID, and 15% on 80 mg BID.
The Company said that these elevations alone were not clinically significant, and virtually all participants were asymptomatic.
Price Action: CRTX shares are down 15.80% at $13.26 during the market session on the last check Thursday.