Biogen scraps two Alzheimer drug trials, wipes $18 billion from market value [Reuters (UK)]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: Reuters
Biogen scraps two Alzheimer drug trials, wipes $18 billion from market value | Reuters 5 Min Read CHICAGO/TOKYO (Reuters) - Biogen Inc and partner Eisai Co Ltd are ending two late-stage trials of their experimental Alzheimer’s disease drug aducanumab, a major setback in the quest to find a treatment for the mind-wasting disease and blow to Biogen, which lost more than $18 billion (13.8 billion pounds)of its value on Thursday. Experts had seen aducanumab as one of the last true tests of the hypothesis that removing sticky deposits of amyloid from the brain of patients in earlier stages of the lethal disease could stave off its ravages, which include loss of memory and the ability to care for oneself. The announcement took a punishing toll on Biogen, whose shares fell nearly 30 percent to $227.82 in midday trading, its largest drop since February 2005, when Biogen shares fell nearly 43 percent to close at $38.65 on Nasdaq. The decision was based on a so-called “futility analysis” of adu
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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