Alexion shares slump as drug misses goal in late-stage trial
Tuesday, June 07, 2016
Alexion Pharmaceuticals Inc said its drug Soliris, already approved in the United States for the treatment of two rare blood disorders, missed its primary goal in a late-stage trial.
Shares were trading down 11 percent at $138.71 in extended trade.
The drug is being studied as a potential treatment for refractory generalized myasthenia gravis, a debilitating neuromuscular disease.
In myasthenia gravis, patients who have largely exhausted conventional therapy, continue to suffer profound muscle weakness, resulting in slurred speech, impaired swallowing and choking, and episodes of respiratory failure.
In the study, the primary efficacy endpoint of change from baseline at week 26 did not reach statistical significance.
Soliris is already approved for the rare blood disorders paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome.
Soliris had sales of $2.59 billion in 2015.
The company said it continues to analyze the study data and expects to give detailed results from the trial in early July.
Shares of Alexion closed $154.99 on Monday on Nasdaq.
Source : reuters.com
