Myriad said the drug, called Flurizan, did not improve thinking ability by a statistically significant amount compared to a placebo. Nor did it improve the ability of patients to carry out daily activities. The company, based in Salt Lake City, said it would discontinue development of the drug.

Last year, Neuochem announced that a Phase III clinical trial had not demonstrated a statistically significant difference in favor of its tramiprosate treatment for Alzheimer's Disease a Phase III clinical trial. Since then Myriad's Flurizan has been under doubts too.

http://seekingalpha.com/article/45698-expect-pressure-on-myriad-genetics-following-trial-news

On 17th June, Wyeth and Elan Corp. reported that a mid-stage study for a drug (bapineuzumab) to treat Alzheimer's disease did not meet its goal. However, the results were encouraging enough for a subpopulation of patients (Alzheimer's patients lacking the gene, known as the ApoE4 allele) that the companies have moved into the final-stage of testing.

Eli Lilly & Company, is in late-stage testing of a drug that works somewhat similarly to Flurizan, by inhibiting an enzyme called gamma secretase.

Let's see what is reported in the upcoming ICAD (International Conference on Alzheimer's Disease) conference (July 26-31).