Shares of Biogen Inc. are falling almost 28 percent in Thursday’s trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer’s drug, Aducanumab.
Source: www.rttnews.com
Shares of Biogen Inc. (NASDAQ: BIIB) slumped ~29% on Thursdayto $226.88. This drop was a response to Biogen and Eisai, Co’s decision to stop two (ENGAGE and EMERGE) Phase 3 trials of aducanumab, an investigational drug for Alzheimer disease. The Companies decided to discontinue trials after results of a futility analysis conducted by an independent data monitoring committee. It was indicated the trials were unlikely to meet their primary endpoint upon completion. Biogen and Eisai have collaborated since October 2017 on the development and commercialization of Aducanumab globally.
