Biogen Plummets as Alzheimer Drug Shows Little Efficacy in Trial [TheStreet.com]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: TheStreet.com
Biogen Plummets as Alzheimer Drug Shows Little Efficacy in Trial That didn't go as planned for Biogen Inc. ( BIIB ) . Shares of the biotech giant plummeted $45.83, or about 12%, to $338 in late-afternoon trading Thursday after mid-stage trial results of its Alzheimer's drug left analysts and investors questioning the efficacy of the treatment when compared to certain measures. BAN2401, which is being developed with Eisai Co. Ltd. ( ESALY ) , was shown to reduce the rate of cognitive decline in patients with the neurodegenerative disease by 30% at the highest dose compared to placebo over an 18-month period, which exceeded analysts' expectations of a 15-20% reduction. The drug showed statistically significant improvement across a few composite measures, including the Alzheimer's Disease Assessment Scale-cognitive subscale, showing a 47% reduction in cognitive decline. BAN2401 also reduced the amount of amyloid plaque buildup by 93%. Yet, the Alzheimer's antibody f
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News
- Biogen Receives Positive CHMP Opinion for TOFIDENCE™ (tocilizumab), a Biosimilar Referencing ROACTEMRA® [Yahoo! Finance]Yahoo! Finance
- Biogen Inc. (NASDAQ: BIIB) had its price target lowered by analysts at Barclays PLC from $215.00 to $200.00. They now have an "equal weight" rating on the stock.MarketBeat
- Shareholders 30% loss in Biogen (NASDAQ:BIIB) partly attributable to the company's decline in earnings over past year [Yahoo! Finance]Yahoo! Finance
- Biogen Inc. (NASDAQ: BIIB) had its price target raised by analysts at Wedbush from $213.00 to $215.00. They now have a "neutral" rating on the stock.MarketBeat
- Biogen Inc. (NASDAQ: BIIB) had its price target lowered by analysts at HC Wainwright from $325.00 to $300.00. They now have a "buy" rating on the stock.MarketBeat
BIIB
Earnings
- 4/25/24 - Beat
BIIB
Sec Filings
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- 4/12/24 - Form PRE
- BIIB's page on the SEC website