Contineum Therapeutics Inc (NASDAQ:CTNM) experienced an 8.4% decline in its stock price following the announcement of a delay in releasing topline results from its Phase 1b study of PIPE-791.
The biopharmaceutical company, currently in the clinical stage, completed enrolling both healthy volunteers and patients with progressive multiple sclerosis (PrMS) for the trial. However, it now expects to publish the preliminary data in the third quarter of 2025, citing what it described as a “modest delay.” This postponement occurred after two additional PrMS patients were enrolled in early June to conduct PET brain imaging in line with the study protocol.
“While the inclusion of these extra patients has slightly delayed the reporting of our topline results, we believe this will provide a deeper clinical insight into PIPE-791’s effects in patients,” stated Timothy Watkins, Chief Medical Officer and Head of Development at Contineum Therapeutics.
The Phase 1b trial focuses on PIPE-791, a selective antagonist targeting the lysophosphatidic acid 1 (LPA1) receptor. Its goal is to evaluate the relationship between drug pharmacokinetics and receptor occupancy through PET imaging in both healthy subjects and patients with progressive multiple sclerosis and idiopathic pulmonary fibrosis (IPF).
So far, the trial has enrolled 12 healthy volunteers and 4 PrMS patients, while recruitment of IPF patients continues. PIPE-791 is being developed for use in neurological, inflammatory, and immunological conditions.