BioX­cel stock craters af­ter dis­clo­sure of in­ves­ti­ga­tor's fal­si­fied safe­ty re­port in Alzheimer's study

BioX­cel tout­ed da­ta Thurs­day morn­ing claim­ing that Igal­mi, its drug for ag­i­ta­tion episodes, suc­ceed­ed in a piv­otal tri­al with Alzheimer’s pa­tients, re­duc­ing a com­pos­ite of symp­toms such as poor im­pulse con­trol and hos­til­i­ty.

But the biotech made on­ly a brief and opaque men­tion in its press re­lease that a prin­ci­pal in­ves­ti­ga­tor on the study was cit­ed by the FDA for a num­ber of bad prac­tices, in­clud­ing fab­ri­cat­ing an email around re­port­ing a par­tic­i­pant’s se­ri­ous med­ical event. The New Haven, CT-based com­pa­ny buried the full de­tails at the bot­tom of an SEC fil­ing.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER