Vigil Neuroscience Inc VIGL is witnessing a brutal market reaction today, with shares plummeting by a massive 37.1% after the company released interim data from its Phase 2 IGNITE proof-of-concept clinical trial in patients with adult-onset leukoencephalopathy with axonal spheroids and pigmented glia (ALSP), a neurological condition characterized by changes to certain brain areas.
The company’s attempt to paint a positive picture by highlighting favorable safety and tolerability profile turned out to be a flimsy veil over the disappointing outcome of the trial. The interim data represented the first six patients following six months of treatment with 20 mg/kg of iluzanebart (formerly VGL101), which did not live up to the market’s expectations and led to a massive sell-off of shares.
Additionally, the company reported findings from its ongoing natural history study, ILLUMINATE, that provided insights on MRI and NfL biomarkers but failed to offer any respite as the market frets over the significant setbacks in the Phase 2 trial.
