On a recent, brisk Saturday afternoon, The Waverly Restaurant & Bar, White Elephant Pub, Beachcomber Trading Post and Calico Jack’s were open and serving a steady stream of customers on Beach Road.

Misses from amyotrophic lateral sclerosis hopefuls Denali Therapeutics and partners AbbVie and Calico Life Sciences mark the latest setbacks for the controversial platform trial, the results from ...