Annexon shares fall 33% after patients drop out of Huntington's trial; Two Chinese biotechs net modest financing rounds
Annexon has some disappointing news, and it is evident at the Nasdaq.
Annexon, which went public back in 2020, had its share price $ANNX tumble more than 30% down to $7.30 on Wednesday after several patients discontinued treatment in a Phase II clinical trial for Huntington’s disease.
The drug candidate, ANX005, is a C1q blocker that was being designed and tested to disrupt Huntington’s disease. And while Annexon claimed the drug had shown improvement in more than half of patients after six months, five patients withdrew from the treatment — three due to a drug-related adverse event, two of which were considered serious adverse events, including systemic lupus erythematosus and idiopathic pneumonitis. Annexon said that after post-study drug discontinuation, one patient had symptoms resolved and the other patient stabilized.
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