The AD market has been dry this week, the biggest news came from Lundbeck and Otsuka which recently released positive phase 3 on Monday relating to brexpiprazole (Rexulti) for AD patients with agitation. Rexulti is already approved for similar indications (schizophrenia and major depressive disorder), bringing in $405 million for Lundbeck last year. This approval is expected to increase sales for Rexulti to $500 million. Overall, not very exciting given the AAD space has enough therapeutics.
Regarding price action, our AD index has been flat, moving -0.38% from last week. Overall the companies experienced a decent appreciation in market capitalization, with 9 of the 13 adding between 2-30% to value in the past week. SAVA saw the worst of the declines, losing 14% in market cap. for the past week. I think investors are coming around to the fact that Cassava is not a real company and starting to realize the real value of their "data."
In conclusion, it was a good week for AD investors.
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