J&J's Depression Drug Pipeline Takes a Hit as Mid-Stage Trial Falls Short

Contineum Therapeutics' experimental depression drug, developed in partnership with Johnson & Johnson, has failed to meet its primary goal in a mid-stage trial. The study aimed to measure improvements on a standard depression rating scale at day five compared to a placebo, but the drug did not achieve the required efficacy endpoint.

The treatment, known as JNJ-5120 or PIPE-307, targets a brain receptor called M1 and was designed to work quickly, within days. However, it failed to show a benefit in multiple sclerosis patients in a separate study last year.

Shares of Contineum fell nearly 8% in after-hours trading following the announcement. Johnson & Johnson is continuing to review the broader data from the study to decide on the next steps for the medicine.