Biogen down 30%, aducanumab failed in AD, page-2

Originallypostedbypivalde

Cambridge-basedBiogen(Nasdaq:BIIB)disclosedThursdaymorningthatit'sstoppingdevelopmentofitswidelywatchedAlzheimer'sdrugcandidate,aducanumab,afterindependenttestsshoweditwaslikelytofail.Biogenstockplungedbynearly30percentfollowingthenews,slashingnearly$18billionoffofitsmarketcapasof2:30p.m.

ThisdemonstrateswellthepotentialvalueofanAlzheimer'sdrugasPrana'sPBT434.PBT434isnotonlyanAlzheimer'sdrugbutadrugforParkins0n'sandmanyconditionsinwhichtoomuchironisaccumulating.

At the same time Prana up 17% ($ 0.30) with a good vol 274 K, to level $ 2.04. These NY market reactions could be related (????) because there are not many promising molecules left ( only my opinion ).