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Why Annexon Biosciences Stock Plummeted 34% Today

·2 min read
Why Annexon Biosciences Stock Plummeted 34% Today

After Annexon (NASDAQ: ANNX) revealed that this occurred in an otherwise encouraging study of its ANX005, a pipeline drug aimed at treating Huntington's disease, the company's shares tumbled by over 34% on the day. After market hours on Tuesday, Annexon reported interim results from an ongoing, open-label Phase 2 clinical trial of ANX005. The data concerned patients who completed the full 24-week course of treatment and revealed that the drug demonstrated "full target engagement of C1q in both serum and cerebrospinal fluid observed in evaluable patients through the dosing period."