Maxim downgrades Synaptogenix on ‘unclear’ path forward

Maxim analyst Jason McCarthy downgraded Synaptogenix to Hold from Buy without a price target after the company’s Phase 2 study of Bryostatin in moderate to severe Alzheimer’s disease missed on the primary endpoint. This is the third Phase 2 trial miss for Bryostatin, "and at this point it is unclear if there is a path forward," McCarthy tells investors in a research note. As such, the analyst downgraded the shares.