Even when you’re invested in a diverse, revenue and earnings generating machine, like Biogen, failed clinical trials for important pipeline drugs can wreak havoc in investors portfolios.
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.
Opicinumab also did not meet the secondary efficacy endpoint in Synergy, which evaluated the slowing of disability progression. Safety and pharmacokinetics were also assessed as secondary endpoints.
Opicinumab was generally well-tolerated and the safety profile was consistent with what has been observed in prior studies. Opicinumab showed a linear, well-behaved PK profile over the studied dose range. Synergy results will be presented at future medical meetings.
That’s about $6 billion in market cap wiped out because of a phase 2 trial. Utterly ridiculous. There are better ways to get rich, than cavort inside of these biotech fun houses.
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