Biogen Inc.
(NASDAQ:BIIB) on Tuesday said it will advance investigational Alzheimer's therapy diranersen into Phase 3 testing after new Phase 2 data showed the tau-targeting treatment slowed clinical decline while producing significant biomarker reductions.
Following the announcement, the stock fell nearly 9%.
According to Bloomberg, RBC Capital Markets analyst Brian Abrahams said the findings "leave more questions than answers." While the data were largely in line with expectations, he said questions remain about their robustness and reproducibility.
He also noted that the strongest clinical benefit was seen in the lowest-dose group despite greater reductions in tau at higher doses.
