BUZZ-Transition Therapeutics Inc: Alzheimer's drug fails study

Wed Jun 24, 2015 7:40am EDT
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** Drug developer's shares down 20 pct at $7.30 premarket

** Says mid-stage study of its experimental neuropshychiatric drug, ELND005, did not meet main goal of significant reduction in agitation and aggression

** Study was testing patients with mild to severe Alzheimer's disease

** Says external advisory panel will be consulted to decide future of drug

** Up to Tuesday's close, stock had risen 27 pct in 12 months