Biogen tanks as opicinumab misses Phase II endpoints in MS trial
Shares of US biotech major Biogen (Nasdaq: BIIB) fell around 8.8% to $289.84 in pre-market trading Tuesday after the company released disappointing trial results with its potentially transformative multiple sclerosis drug candidate opicinumab. By mid-morning, the stock was down 12.14% at $254.64.
Biogen reported top-line results from the Phase II SYNERGY study evaluating opicinumab (anti-LINGO-1), an investigational, fully human monoclonal antibody being developed as a potential neuroreparative therapy in people with relapsing multiple sclerosis (RMS).
In the study, opicinumab missed the primary endpoint, a multicomponent measure evaluating improvement of physical function, cognitive function, and disability. However, evidence of a clinical effect with a complex, unexpected dose-response was observed.
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