Alzheimer's drug developers react as Biogen-Eisai bow out of trials

NextTrip

21/03/2019 15:09

(Adds Axsome Therapeutics; Updates share movements)
    ** Biogen  BIIB.O  shares plunge 28.2 pct to $230.16 as co
and partner Eisai Co Ltd  4523.T  say they are ending two
late-stage trials testing Alzheimer's drug aducanumab
 urn:newsml:reuters.com:*:nL3N2182A9
    ** However, BIIB says it will continue to test other
experimental drugs for the memory-robbing disease
    ** Share drop translates to over $17.1 bln loss in market
cap for BIIB; up to Wed's close, stock had gained 6.5 pct this
year
    ** Biggest drop for Biogen since Aug. 1, 2008
    ** AC Immune  ACIU.O  shares down 3.4 pct at $4.49; co is
developing Alzheimer's treatments in partnership with Roche AG
 ROG.S 
    ** Axsome Therapeutics  AXSM.O  up 13 pct at $13.59; co has
ongoing late-stage trial for Alzheimer's disease in pipeline
    ** Neurotrope  NTRP.O  up ~8 pct at $4.62 after co's
positive comments on its Alzheimer's pipeline in the wake of
Biogen's failure; stock up ~40 pct this year
    ** Sweden's BioArctic AB  BIOAb.ST  down 26.3 pct, biggest
one-day drop since a ~30 pct plunge on July 26 last year when
BIIB's data on the Alzheimer's drug failed to enthuse investors
 urn:newsml:reuters.com:*:nL4N1UM5F2
    ** vTv Therapeutics Inc  VTVT.O , which is also developing a
treatment for Alzheimer's, down 2.2 pct at $1.79
    ** Voyager Therapeutics  VYGR.NB  up 3.06 pct at $18.64; co
has very early-stage Alzheimer's treatment in the pipeline

 (Reporting by Tamara Mathias and Aakash Jagadeesh Babu in
Bengaluru)
 ((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 1208; Reuters Messaging:
tamara.mathias.thomsonreuters.com@reuters.net))