Contineum Therapeutics reported topline results from its Phase II VISTA trial of PIPE‑307, an M1 receptor antagonist developed with Janssen, and the study failed to meet its primary and secondary efficacy endpoints for binocular low‑contrast visual acuity. The trial enrolled 182 relapsing‑remitting MS patients and showed an acceptable safety and tolerability profile but no significant efficacy signal. Market reaction was swift: Contineum’s stock dropped double digits after the announcement. The company said it will analyze exploratory endpoints and present full datasets at a future conference; Janssen and Contineum continue to evaluate next steps for the program and related pipeline plans.