Deborah Dunsire kicks off her new gig as Lundbeck CEO with a key PhIII trial failure
You have to feel almost sorry for Deborah Dunsire.
No sooner does the Millennium vet take the helm of Lundbeck after back-to-back biotechs collapse on her watch than the company’s schizophrenia drug candidate fails a Phase III study, torpedoing the stock as shares plunge 30%.
Lu AF35700 failed to measure up against conventional therapy in its first Phase III study, likely eliminating any potential upside as far as regulators might be concerned. Investigators tested the drug on 964 treatment-resistant patients treated over 10 weeks.
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