Here's Why Ionis Pharmaceuticals Stock Got Slammed Today
Shares of Ionis Pharmaceuticals (NASDAQ: IONS) closed down 21.7% on Tuesday after the biotech's partner Roche Holding (OTC: RHHBY) announced plans to stop treating patients with tominersen in a late-stage clinical trial testing the duo's drug to treat Huntington's disease, a progressive brain disorder.
After taking an interim peek at the data from the study, the independent data-monitoring committee recommended patients stop receiving the drug due to the benefit/risk profile of tominersen. The companies noted there were no new or emerging safety signals identified in the patients taking tominersen, which implies the problem likely has to do with lower-than-expected efficacy.
Roche plans to follow the patients in the study, without giving them additional doses of tominersen or a placebo, but investors should assume there's a very, very small chance the final data might show a positive effect given the recommendation of the independent data monitoring committee.
Source Fool.com
