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Investing.com -- Contineum Therapeutics Inc (NASDAQ:CTNM) stock fell 8.4% after the clinical-stage biopharmaceutical company announced a delay in reporting topline data from its Phase 1b trial of PIPE-791.
The company has completed enrollment of healthy volunteers and progressive multiple sclerosis (PrMS) patients in the trial but now expects to report topline data in the third quarter of 2025, representing what it described as a "modest delay." The postponement came after Contineum enrolled two additional PrMS patients in early June to assess PET imaging of the brain, in accordance with the trial protocol.
"While adding these additional patients to the trial has led to a modest delay in reporting our topline data, we believe the enhanced clinical understanding of PIPE-791 in patients is important to the program," said Timothy Watkins, Chief Medical (TASE:BLWV) Officer and Head of Development at Contineum Therapeutics.
The Phase 1b trial is evaluating PIPE-791, a selective antagonist of the lysophosphatidic acid 1 (LPA1) receptor. The study aims to assess the correlation between pharmacokinetics and LPA1 receptor occupancy using positron emission tomography (PET) imaging in healthy volunteers and patients with progressive multiple sclerosis and idiopathic pulmonary fibrosis (IPF).
To date, 12 healthy volunteers and four PrMS patients have participated in the trial, with screening and enrollment of IPF patients still ongoing. The company is developing PIPE-791 for neuroscience, inflammation, and immunology indications.
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