Actinogen decimated by depression data

Shares in Actinogen Medical (ASX: ACW), an Australian biotech developing a novel therapy for neurological and neuropsychiatric diseases associated with dysregulated brain cortisol, closed 58% lower on Monday, following negative trial results.

Actinogen earlier announced that its Xanamem treatment had failed to meet the primary endpoint in the Phase IIa XanaCIDD in patients with cognitive dysfunction and major depressive disorder (MDD).

The primary endpoint of superiority to placebo in a cognitive attention composite of three Cogstate computerized tests was not met, with large improvements seen in both Xanamem and placebo groups.