Phenserine

Axonyx's Alzheimers drug, Phenserine, did not show a statistically significant improvement over a placebo in its phase III trial. Shares of the biotech firm (AXYX) dropped a whopping %63. The trial had been conducted over a 26 week period, studying 384 patients with Alzheimers. Two dosage levels, 15 and 10mg were compared with the placebo. There were no safety issues observed.

Phenserine is currently undergoing testing in a Phase IIB trial to
evaluate its anticipated ability to lower levels of beta-amyloid
precursor protein ((beta)-APP) and beta-amyloid (A(beta)) in the
plasma and cerebrospinal fluid (CSF), which may lead to a slowing of
disease progression. The results of the Phase III trial will not
impact the interim analysis planned of the available CSF and plasma
samples for (beta)-APP and A(beta), and these results are expected
before the end of March.

Phenserine is a highly selective acetylcholinesterase (AChE)
inhibitor that breaks down a neurotransmitter in the brain important
in memory and cognition. Unlike other AChE inhibitors, which only
suppress the activity of the enzyme, Phenserine has been shown to have
two mechanisms of action: (1) the inhibition of the AChE enzyme, and
(2) in preclinical studies, the inhibition of the synthesis of
A(beta), the protein in the brain that is thought to be a cause of
brain cell death in Alzheimer's disease.

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