On September 14, 2026, Contineum Therapeutics reported that the Phase 2 MOONLIGHT-1 clinical trial for JNJ-5120/PIPE-307 failed to meet its primary efficacy endpoint in treating major depressive disorder. The drug was well-tolerated with no new safety signals, but Johnson & Johnson continues to evaluate prespecified exploratory endpoints to determine next steps. Contineum Therapeutics is a clinical-stage biopharmaceutical company developing small molecule therapies for inflammatory and fibrotic diseases.

Contineum Therapeutics reported second-quarter 2026 financial results with a net loss of $15.2 million and cash reserves of $236.6 million as of June 30, 2026. The company affirmed key clinical milestones, including the initiation of patient dosing in its Phase 2 PROPEL-IPF trial for PIPE-791 and the completion of enrollment by Johnson & Johnson in the MOONLIGHT-1 trial for PIPE-307. Research and development expenses decreased 10% to $12.7 million, while general and administrative expenses rose 23% to $4.7 million due to higher stock-based compensation. The company also announced a workforce reduction affecting its research team, including Chief Scientific Officer Daniel Lorrain, as it streamlined discovery programs. Contineum Therapeutics operates in the biopharmaceutical industry, developing small molecule therapies for inflammatory and fibrotic diseases.