Biogen drops after additional mid-stage trial data for Ionis-partnered Alzheimer’s drug
Seeking Alpha ·
Biogen (CIIB) shares fell in the morning hours on Tuesday after the company announced additional data from a mid-stage trial for diranersen, a novel experimental therapy for Alzheimer’s disease developed with Ionis Pharmaceuticals ( IONS ).
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Biogen shares are declining following the release of additional Phase 2 clinical data for its Alzheimer's drug, co-developed with Ionis. The data failed to meet market expectations, triggering sell-offs from disappointed investors. Increased uncertainty regarding the drug's commercial viability is expected to dampen investor sentiment across the biotech sector.
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- Biotech — Weak clinical data for Biogen's Alzheimer's drug worsens sentiment not only for the company but for drug-development-focused biotech firms. Rising uncertainty over high-cost clinical success is expected to increase risk premiums across the sector.
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