Biogen and partner Eisai Co Ltd are ending two late-stage trials testing an Alzheimer's drug, they said Thursday, marking the latest setback for ...
TOKYO/BENGALURU: Biogen and partner Eisai Co Ltd are ending two late-stage trials testing the experimental Alzheimer's drug aducanumab, marking the latest setback for an industry racing to develop treatments for the memory-robbing disease.
The decision to discontinue the trials was made after an independent data monitoring committee reported the drug was unlikely to be successful, the companies said. The recommendation was not based on safety concerns, they added. Investors have long been skeptical of Biogen's Alzheimer drug pipeline and the company has been making acquisitions to diversify its potential future treatments.SVB Leerink analyst Geoffrey Porges said in a note that the brokerage could not find any near term catalysts that would help Biogen's stock recover above US$300.
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