BIIB inventory drops after report on second demise linked to Alzheimer’s drug (NASDAQ:BIIB)

Biogen (NASDAQ:BIIB) shed ~5% on Monday, the largest intraday decline in practically two months after the journal Science reported a demise linked to the Alzheimer’s candidate lecanemab the corporate is advancing with its Japanese accomplice Eisai (OTCPK:ESALY) (OTCPK:ESALF).

Based mostly on an unpublished case report, the journal mentioned {that a} 65-year-old girl receiving the anti-amyloid antibody as a part of a medical examine died from an enormous mind hemorrhage, which some investigators have linked to the experimental remedy.

In October, Stat Information additionally reported {that a} topic within the lecanemab trial died after a cerebral bleeding occasion linked to the therapy.

In September, Biogen (BIIB) and Eisai (OTCPK:ESALY) mentioned that early knowledge indicated lecanemab reached the first aim in a Part 3 trial for Alzheimer’s. Detailed outcomes from the 1,800-subject trial are anticipated this week.

Eisai (OTCPK:ESALY) didn’t touch upon the incident, together with whether or not it beforehand knew in regards to the girl’s demise. “All of the out there security info signifies that lecanemab remedy just isn’t related to an elevated danger of demise general or from any particular trigger,” the corporate mentioned.

Alzheimer’s drug builders led by Anavex Life Sciences (AVXL), Alzamend Neuro (ALZN), and AC Immune (ACIU) are on the decline in mid-day buying and selling at the moment.

Anavex’s (AVXL) selloff comes after the corporate reported financials for fiscal 2022 earlier than the opening bell.