Why Is Rare Neurological Disease Focused Vigil Neuroscience Stock Trading Lower Today?

Vigil Neuroscience Inc VIGL shares are down after the company released interim data from its Phase 2 IGNITE proof-of-concept clinical trial in patients with adult-onset leukoencephalopathy with axonal spheroids and pigmented glia (ALSP), a neurological condition characterized by changes to certain brain areas.

Also Read: Vigil Neuroscience's Focus On Neurodegenerative Diseases: Analyst Says Pipeline Offers Upside Opportunities To Valuation.

The company says that the interim data, representing the first six patients following six months of treatment with 20 mg/kg of iluzanebart (formerly VGL101), further support the favorable safety and tolerability profile as was previously seen in healthy volunteers. 

In addition, these data showed target engagement and downstream pharmacological activity at 20 mg/kg, consistent with the company's previously reported Phase 1 data in healthy volunteers. 

Directionally supportive changes were observed at 6 months on magnetic resonance imaging (MRI) and neurofilament light (NfL) biomarkers of disease progression in individual patients with ALSP.

The company also reported findings from its ongoing natural history study, ILLUMINATE, which continued to provide insights on MRI and NfL biomarkers and supports soluble colony-stimulating factor 1 receptor (sCSF1R) as a potential key biomarker of ALSP disease pathology.

The company expects to report Phase 2 IGNITE results from all patients in 20 mg/kg and 40 mg/kg cohorts at six months in the third quarter of 2024.

Price Action: VIGL shares are down 37.1% at $4.20 on the last check Friday.