Biogen: shares down after rival's drug data
(CercleFinance.com) - Shares of Biogen were down almost 4% Monday after PTC Therapeutics presented interim clinical data from a study investigating risdiplam in babies with type-1 spinal muscular atrophy (SMA).
The data presented at a congress demonstrated that at day 182, over 90% of the babies achieved a greater score in neuromuscular disorders compared to baseline.
The data was further supported by video footage showing anti-gravity movements, the ability to control their head, roll, or sit in babies participating in the study, PTC said.
According to the analysts, this may add to the ongoing uncertainty about durability of Biogen's rare-disease treatment Spinraza after 2020, along with gene therapies, reinforcing a need for more visible growth drivers at the biotech firm.
Shares of Biogen are currently down 3.6% in early-morning trading on the Nasdaq.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The data presented at a congress demonstrated that at day 182, over 90% of the babies achieved a greater score in neuromuscular disorders compared to baseline.
The data was further supported by video footage showing anti-gravity movements, the ability to control their head, roll, or sit in babies participating in the study, PTC said.
According to the analysts, this may add to the ongoing uncertainty about durability of Biogen's rare-disease treatment Spinraza after 2020, along with gene therapies, reinforcing a need for more visible growth drivers at the biotech firm.
Shares of Biogen are currently down 3.6% in early-morning trading on the Nasdaq.
Copyright (c) 2018 CercleFinance.com. All rights reserved.