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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