Biogen stock plummets 28% after Alzheimer’s trial halt [MarketWatch]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: MarketWatch
Biogen stock plummets 28% after halting Alzheimer’s trials Shares of pharmaceutical giant Biogen Inc. plunged 28% on Thursday morning after the drugmaker said it would discontinue its Phase 3 trials of aducanumab , an investigational drug designed to slow cognitive decline in patients with early Alzheimer’s disease. The move has put the stock on track for its biggest one-day percentage slide since August of 2008. Biogen BIIB, -28.33% and drug development partner Eisai Co. Ltd 4523, -0.24% ESALY, -28.79% said the decision was based on the results of an interim analysis conducted by an independent monitoring committee. The analysis concluded the trials were unlikely to slow cognitive and functional impairment in patients on aducanumab compared with those on a placebo. U.S.-listed shares of Eisai also fell 28%. Aducanumab joins a long list of other Alzheimer’s drug failures. There have not been any new approved treatments in more than 15 years; the last was approved in 2003. An
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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