Contineum, J&J's depression drug fails to meet mid-stage trial goal

Sept. 15 (Reuters) - Contineum Therapeutics said on Monday an experimental depression drug it developed with Johnson & Johnson failed to meet the main goal of a mid-stage study.

The trial was testing the drug, JNJ-5120 or PIPE-307, in patients with major depressive disorder, or MDD. The trial measured improvements on a standard depression rating scale at day five compared with a placebo, but the drug did not achieve the required efficacy endpoint.

Shares of Contineum fell nearly 8% in after-hours trading.

The treatment is being developed by healthcare giant Johnson & Johnson under a global licensing agreement. J&J is continuing to review the broader data from the study to decide the next steps for the medicine.

The company said the treatment was well-tolerated and showed no new safety signals.

The drug targets a brain receptor called M1 and was designed to work quickly, within days, unlike many antidepressants that can take weeks to show an effect.

In 2025, a study testing the same compound, PIPE-307, in multiple sclerosis patients also failed to show a benefit.

MDD affects more than 21 million adults in the U.S. each year, making it one of the most common mental health conditions in the country.