Cambridge-based Biogen (Nasdaq: BIIB) disclosed Thursday morning that it's stopping development of its widely watched Alzheimer's drug candidate, aducanumab, after independent tests showed it was likely to fail. Biogen stock plunged by nearly 30 percent following the news, slashing nearly $18 billion off of its market cap as of 2:30 p.m.
This demonstrates well the potential value of an Alzheimer's drug as Prana's PBT434. PBT434 is not only an Alzheimer's drug but a drug for Parkins0n's and many conditions in which too much iron is accumulating.
Cambridge-based Biogen (Nasdaq: BIIB) disclosed Thursday morning...
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