A highly watched Alzheimer's drug failed its clinical trial. Photo: Evan Vucci / AP

The experimental Alzheimer's drug intepirdine failed a crucial clinical trial, Axovant Sciences said Tuesday. The bad news crushed Axovant's stock by more than 70%. The failure is a major disappointment for people who thought Axovant had a promising therapy for a brain disease that routinely eludes promising therapies.

Go deeper: Forbes profiled Axovant in 2015.

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Trump announces plan to distribute 150 million rapid coronavirus tests

President Trump announced on Monday that the federal government will distribute 150 million rapid, point-of-care coronavirus tests to states over the next few weeks, including to K-12 schools and vulnerable communities like nursing homes and assisted living facilities.

Why it matters: The Trump administration has stressed the importance of reopening schools in allowing parents to return to work and jumpstarting the economy.

Updated 57 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 33,217,895 — Total deaths: 999,273 — Total recoveries: 22,975,269Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 7,128,774 — Total deaths: 204,881 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. States: Cuomo extends New York moratorium on evictions until 2021.
  4. Business: Companies are still holding back earnings guidance.
  5. Health: The childless vaccine — Why kids get less severe coronavirus infections.
  6. World: India the second country after U.S. to hit 6 million cases.
58 mins ago - Podcasts

Digging into Trump's taxes

President Trump paid no federal income tax in 10 of the past 15 years, and just $750 in 2016 and 2017, according to a new report from the New York Times. He also is reported to have hundreds of millions of dollars in outstanding debts, most of which would come due during a second term.

Axios Re:Cap focuses on what is and isn't surprising about the revelations, plus how real estate developers are taxed, with Francine McKenna, an independent financial journalist and certified public accountant.