Shares of Biogen and Ionis Pharmaceuticals are trading lower after the company discontinued development of ALS candidate BIIB105.
Portfolio Pulse from Benzinga Newsdesk
Shares of Biogen and Ionis Pharmaceuticals are trading lower after the company discontinued development of ALS candidate BIIB105.
May 16, 2024 | 4:10 pm
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NEGATIVE IMPACT
Biogen's shares are trading lower after the company announced the discontinuation of its ALS candidate BIIB105.
The discontinuation of a drug candidate typically has a negative impact on a biotech company's stock price, especially if the drug was a significant part of the company's pipeline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ionis Pharmaceuticals' shares are trading lower following the discontinuation of ALS candidate BIIB105, which was being developed in collaboration with Biogen.
As a collaborator in the development of BIIB105, Ionis Pharmaceuticals is also negatively impacted by the discontinuation, leading to a drop in its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100