Why Synaptogenix (SNPX) Shares Are Plunging Today - Synaptogenix (NASDAQ:SNPX)

Synaptogenix Inc SNPX announced topline data from its National Institute of Health (NIH)-sponsored Phase 2 trial of Bryostatin-1 for advanced Alzheimer's disease.
The trial's primary endpoint of change from baseline in the Severe Impairment Battery (SIB) total score assessment obtained after the second course of treatment (week 28) was not met with statistical significance.
SIB is a cognitive measure evaluating treatment response in advanced Alzheimer's disease.
An average increase in the SIB total score of 1.4 points and 0.6 points was observed for the Bryostatin-1 and placebo groups, respectively, at week 28.
Also See: Synaptogenix Stock Drops After Unveiling Analyses Of Alzheimer's Candidate.
"We are disappointed in the topline results from this Phase 2 trial. Having just received the primary endpoint data, we are conducting a full review of all of the trial data to determine potential next steps and will provide an update of our plans when appropriate," said CEO Alan Tuchman.
Synaptogenix said it remains well-funded, with approximately $38.5 million in cash as of December 15, 2022.
Price Action: SNPX shares are down 75.4% at $1.16 on the last check Friday.

Synaptogenix Shares Nosedive After Mid-Stage Alzheimer's Study Fails On Primary Endpoint