Why AC Immune Stock Is Crashing Today
Shares of the Swiss biotech AC Immune (NASDAQ: ACIU) lost over 42% of their value in pre-market trading Wednesday morning. The biotech's stock is crashing today in response to the news that its experimental Alzheimer's disease (AD) drug semorinemab failed to meet the primary endpoint of a midstage trial dubbed Tauriel. The drug also reportedly missed two key secondary endpoints in the study.
As part of a collaboration agreement, Roche's (OTC: RHHBY) Genentech subsidiary was evaluating the Anti-Tau antibody as a treatment for early (prodromal to mild) AD in this failed trial. Another midstage study (the "Lauriet" study), assessing semorinemab in patients with moderate AD, will continue as planned, according to the two partners. Top-line results from this second-midstage trial are slated for next year.
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Source Fool.com
