Otsuka has now formally decided to terminate the development of AVP-786 for Alzheimer's agitation, for which it is set to book another JPY100bn loss this year, and marking a major setback for an asset that was a key attraction in a previous large acquisition.

The group will take a $770m impairment charge thanks to the Phase III failure of AVP-786 – but further trials continue.

Restructuring Edition: Impel eliminated R&D spending earlier this year to focus on Trudhesa commercialization, but is examining all options, including bankruptcy, as its funding runs out. Also, Alaunos, BioXcel and others announce job cuts and strategic shifts during second quarter updates.

The company reported positive efficacy results, but also revealed allegations that an investigator had failed to adhere to trial protocol and was alleged to have fabricated emails to cover their tracks.