Ionis shares tumble 19
Shares of Ionis Pharmaceuticals Inc. were down 19.6% in premarket trading on Tuesday, the day after the company said Roche Holding AG decided to discontinue a late-stage clinical trial for a Huntington's disease treatment candidate. Roche licensed the investigational therapy, tominersen, from Ionis in December 2017. However, an independent data monitoring committee first made the recommendation to discontinue the study. "The program isn't necessarily dead, but it's unlikely to drive much value for the stock near term," Bernstein's Vincent Chen wrote in a note to investors on
Portions of Ionis Pharmaceuticals Inc. were down 19.6% in premarket exchanging on Tuesday, the day after the organization said Roche Holding AG chose to end a late-stage clinical preliminary for a Huntington's infection treatment competitor. Roche authorized the investigational treatment, tominersen, from Ionis in December 2017. In any case, an autonomous information observing panel originally made the suggestion to stop the investigation. "The program isn't really dead, however it's probably not going to drive a lot of significant worth for the stock close to term," Bernstein's Vincent Chen wrote in a note to financial backers on Tuesday. "This suspension doesn't imply that the program is dead. It relies upon why it fizzled." Ionis' stock is up 33.7% in the course of recent months, while the more extensive S&P 500 has acquired 70.9%.