UCB slides after experimental Parkinson's drug misses targets in trial

UCB SA

17/12/2024 08:48

** Shares in UCB  UCB.BR  fall as much as 3.2% after its
experimental Parkinson's drug minzasolmin, co-developed with
Swiss pharma group Novartis  NOVN.S , did not meet primary or
secondary targets in a proof-of-concept study
    ** UCB has initiated measures to terminate the extension
phase of the trial program
    ** J.P.Morgan analysts see "any weakness today as a buying
opportunity", and say market expectations for the drug were low
due to historical trial failures using the same mechanism
    ** KBC Securities also says the medicine represented less
than 1% of its sum-of-the-parts calculations for the UCB stock
    ** The UCB shares are down 2.6% at EUR 180.65 by 0839 GMT,
on track for their biggest drop in over a month if the losses
hold
    ** Up to the previous session's close, they were up 135%​
YTD
    ** Novartis is down 0.6% in morning trade

 (Reporting by Jakob Van Calster)
 ((Jakob.vancalster@thomsonreuters.com))