(Reuters) – Denali Therapeutics said on Friday it was informed by partner Sanofi that their drug for a type of neurological disease did not meet the main goal in a mid-stage trial.
Shares of Denali were down 6% in premarket trading.
The companies were developing a drug to treat amyotrophic lateral sclerosis (ALS), a rare neurological disease that can break down nerve cells in the brain and spinal cord responsible for muscle movements, leading to progressive paralysis and death.
Sanofi, however, will continue to conduct a mid-stage trial evaluating the drug in participants with multiple sclerosis, a disease of the central nervous system.
Around 16,000 to 32,000 people have ALS in the United States, according to government data.
(Reporting by Christy Santhosh; Editing by Shilpi Majumdar)
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