GemVax & KAEL is plunging more than 26% on the 10th after news that the Alzheimer's disease drug candidate GV1001 failed to demonstrate efficacy in a global phase 2 trial.
As of 9:46 a.m. that day, GemVax & KAEL was trading on KOSDAQ at 40,100 won, down 14,400 won (26.42%) from the previous session.
GemVax & KAEL said after the market closed on the 7th that it had received the final clinical study report (CSR) stating that while safety was confirmed in the global phase 2 trial of GV1001, efficacy was not secured.
GV1001 showed safety and tolerability across all dose groups compared with the placebo group in terms of safety, but did not achieve statistical significance on efficacy endpoints.
GemVax & KAEL said, "However, in the 'Quality of Life-Alzheimer's Disease (QoL-AD)' survey, the magnitude of score improvement in the treatment group was statistically significant compared with the placebo group."
It added, "Based on these clinical trial data, we plan to conduct subgroup analysis and biomarker analysis and proceed with preparations for a subsequent phase 3 clinical trial."