Clinical Efficacy FailureAnalyst reports the Phase 3 NEAT study missed both the primary and key secondary endpoints, undermining the drug's efficacy case and core value proposition.
Development Halt And Strategic UncertaintyAnalyst notes management has halted clinical development of the program and is evaluating strategic options while conserving cash, creating uncertainty about the company's development path.
Financial Outlook And Analyst ReactionAnalyst cut the rating to Hold and removed expected revenue from the failed program, materially reducing projected future revenue and altering expense assumptions.