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Biogen Sinks After Alzheimer's Data Leaves Analysts With Questions

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Photographer: David Maung/Bloomberg

A presentation on Biogen Inc. Alzheimer’s disease drug sent the shares plunging 10 percent in pre-market trading and reignited a debate on the drug’s effectiveness. It also muddied any read-across to the company’s potential blockbuster-in-waiting, aducanumab, according to analysts.

“There are almost no reasonable conclusions to draw from the BAN2401 data presented yesterday,” Robert W. Baird & Co.’s Brian Skorney wrote in a note on Thursday, adding that there are a lot of problems with the study.