Alder Shares Plummet Almost 25% Despite Positive Data; Aralez Pops on Patent Victory: Biotech Movers

Alder Shares Plummet Almost 25% Despite Positive Data; Aralez Pops on Patent Victory: Biotech Movers

Shares of Alder BioPharmaceuticals Inc. were down 23.5% to $14.30 in premarket trading on Tuesday, June 27 despite the announcement that eptinezumab, the Bothell, Wash.-based firm's lead product candidate for migraine prevention, met primary and key secondary endpoints in a Phase 3 study. "The trial met its primary endpoint of demonstrating a statistically significant reduction in monthly migraine days from baseline in the treatment group compared to placebo, but the separation was not as profound as expected , 3.9 days in the 100 mg cohort and 3.2 days for placebo)," noted Seeking Alpha.

from Biotech News