Contineum Therapeutics reported topline results from its Phase 2 VISTA trial of PIPE‑307 in relapsing‑remitting multiple sclerosis and missed the trial's primary and key secondary endpoints. The M1 receptor agonist showed an acceptable safety profile but failed to improve binocular low‑contrast letter acuity, a vision measure used in the study. Contineum’s stock fell sharply after the readout; the company said it will analyze exploratory endpoints and publish full data. Investors and partners, including Johnson & Johnson, that had backed the program will reassess positioning and next steps as Contineum interrogates the dataset.