Shares of Biogen were down 0.6% in premarket trading on Monday, the day after the company said an experimental amyotrophic lateral sclerosis (ALS) drug did not meet the primary endpoint in an open-label, Phase 3 clinical trial. Biogen said it is considering next steps for the investigational drug, tofersen, which was being tested in people with a rare form of the neurodegenerative disease. “These preliminary data may be supportive of some hints of efficacy; however, the study failed the well-understood ALS primary endpoint, and thus we don’t see how Biogen would be able to proceed with a filing with this data,” SVB Leerink analyst Marc Goodman told investors on Sunday. Biogen’s stock is up 14.8% this year, while the broader S&P 500 has gained 19.0%.
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