D. Boral Capital downgraded CervoMed (CRVO) to Hold from Buy and removed the firm’s prior price target after the company reported that the Phase 2b RewinD-LB trial of neflamapimod in dementia with Lewy bodies showed no statistically significant benefit over placebo on primary or secondary endpoints. The firm is lowering its rating given these “disappointing outcomes and the pause on Phase 3 preparations,” pending further clarity on the drug’s development pathway and updated data expected in mid-2025, the analyst tells investors.
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Read More on CRVO:
- CervoMed Faces Setback in Phase 2b Trial
- CervoMed announces RewinD-LB Phase 2b did not meet primary endpoint
- CervoMed initiated with Buy into ‘binary readout’ at Roth MKM
- CervoMed initiated with a Buy at Roth MKM
- CervoMed initiated with a Buy at H.C. Wainwright
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
