Axovant Gene Therapies Ltd (AXGT)

[Ramiel]

A spokesman for Axovant told CNBC that the results from Lundbeck's study were expected and that "weak efficacy" in their trial "is not surprising to" Axovant.

"By contrast, the objective of our Phase 3 1150-patient MINDSET study is to confirm the results of a 684-patient Phase 2 study that demonstrated statistically significant improvements on cognition and function," he said. "Based on today's news, and subject to FDA approval, intepirdine could now be the first drug of its class to be approved for the treatment of mild-to-moderate Alzheimer's disease – potentially becoming the first approved treatment for this disease since 2003."