• News
  • Business

Biogen stock price: Biogen shares tumble as Alzheimer's drug trial disappoints

Biogen stock price: Biogen shares tumble as Alzheimer's drug trial disappoints

Biogen and Eisai were evaluating aducanumab in two phase III studies - ENGAGE and EMERGE - in patients with mild cognitive impairment due to Alzheimer's disease and mild Alzheimer's disease dementia.

The company said it would also discontinue the phase-2 EVOLVE study of aducanumab, which was an extension of the phase-1b PRIME to evaluate the experimental drug's safety. However, it was said that treating Alzheimer's disease is proving to be tenuous.

It's another devastating blow in the search for a treatment for patients living with Alzheimer's disease.

The demise of aducanumab came after independent experts determined the trials had little hope of succeeding, marking the latest setback in the quest to treat a mind-wasting disease that affects 5.7 million people in the United States alone.

The development is a "transformative failure for Biogen's pipeline", said Brian Abrahams, an analyst at RBC Capital Markets, who had the equivalent of a hold rating on the stock. In March 2014 Eisai and Biogen entered into a joint development and commercialization agreement for BAN2401 and the parties amended that agreement in October 2017.

Despite those failures, there had been hope that aducanumab was one of the best chances of showing an impact after mid-stage trials showed evidence that it could stabilise cognitive decline. Although aducanumab is only the latest of those failures, Cowen analyst Phil Nadeau wrote in a note to clients Thursday that aducanumab's clear ability to remove amyloid beta from the brain makes it hard to see how other amyloid beta-targeting antibodies could succeed.

Seven-seat Tesla Model Y revealed with 300-mile range
Model Y crossover electric vehicle during an unveiling event in Hawthorne, California , U.S., on Friday, March 15, 2019. The high-end models are scheduled to launch next fall, with the standard version following in the spring of 2021.

Hilary Evans, Chief Executive at Alzheimer's Research UK, said: "There are hundreds of thousands of people living with Alzheimer's in the UK and this news is clearly disappointing for them and their families".

"Those are very, very interesting companies that should be considered now, more seriously".

Two clinical trials for the testing of an Alzheimer's drug, have been canceled due to the lack of prospect of success.

Many companies are pursuing alternative theories for attacking Alzheimer's, such as focusing on tau, another Alzheimer's-linked protein, or on inflammation, which is believed to play a role in the very early formation of the disease. "If they want one more shot on goal, I would think that would be a business decision rather than a strong scientific decision".

Eisai Co., Ltd. announced that a global Phase III clinical study (Clarity AD/Study 301) of BAN2401, an anti-amyloid beta protofibril antibody, in patients with early Alzheimer's disease has been initiated. Detailed data from these studies will be presented at future medical meetings.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Alleged mail bomber Cesar Sayoc pleads guilty

The bombs began turning up weeks before the hotly contested midterms, contributing to an already tense political environment. The most recent device was intercepted en route to New Jersey Senator Corey Booker on Friday.

Super worm moon: Final supermoon of 2019 arrives with spring

On March 20, the direct rays of the sun are shining down on the equator producing the effect of equal day and night . A Worm Moon is a term used by Native American tribes and Europeans for a full moon that appears in March.

James Milner rescues Liverpool after rare Virgil van Dijk and Alisson blunder

Obviously beating Burnley at home was hard , as they are in a similar position to Fulham, and we fell behind there. Liverpool FC are two points ahead of second-placed Manchester City with seven games to go in the title race.

Oil prices stable, supported by signs of emerging supply deficit

Yet prices have been prevented from rising further by concerns that an economic slowdown will soon start denting growth in fuel demand.

Suspect in Christchurch mosque shootings to appear in court

A short distance away, 39 people were being treated in hospital for gunshot wounds and other injuries inflicted in the massacre. A policeman looks on as locals lay flowers at the Huda Mosque in Dunedin in tribute to those killed and injured in the attacks.

New Zealand Charges Main Shooter in Mosque Attack with Murder

A fourth person detained in the aftermath of the attack was later determined to be an armed bystander who wanted to help police. Ms Ardern, who arrived in Christchurch Saturday, said the shooter was not on any watchlist and did not have a criminal record.

Beto O'Rourke has serious hacker credentials

Since O'Rourke ended the practice when he was 18, the statute of limitations would've run out for him a long time ago. O'Rourke was made aware of Trump's criticism Thursday, but appeared unbothered by it.

Kim Kardashian praises California death penalty ban

Seventy-nine condemned California inmates have died of natural causes since California reinstated capital punishment in 1978. Newsom signed an executive order granting reprieves to death row inmates and closing the state's execution chamber.

Trump once again requests deep cuts in U.S

In the last two years, President Trump and this Administration have prioritized reining in reckless Washington spending. Some of the plans resemble proposals unsuccessfully offered by President Barack Obama in his time in the White House.

Venus surges, Keys stumbles at Indian Wells

Eugenie Bouchard, meanwhile, fell at the first hurdle following a three-set loss against Kirsten Flipkens at the WTA tournament. She received a first-round bye in Indian Wells and then beat Victoria Azarenka 7-5, 6-3 on Saturday [NZ time].