BUZZ-Denali Therapeutics falls after ALS drug fails in mid-to-late stage trial

** Shares of drug developer Denali Therapeutics DNLI.O fall 6.7% to $18.50 premarket

** Co late on Monday said its experimental ALS drug failed to meet the main goal of a mid-to-late stage study

** Amyotrophic lateral sclerosis (ALS) is a fatal neurodegenerative disease

** Co said the drug, DNL343, did not demonstrate a change in disease severity over time and in survival compared to placebo

** The drug also did not meet key secondary goals of statistically significant improvements in muscle strength and respiratory function

** Brokerage H.C. Wainwright cuts PT to $87 from $90, says "the results are not shocking given the complexities of conducting a perfect ALS trial"

** Up to last close, stock had fallen 5% in 2024

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))