Ionis Pharmaceuticals(US:IONS) zacks.comยท2024-05-17 15:11Core Viewpoint - Ionis Pharmaceuticals and Biogen have decided to terminate the development of their investigational ALS drug, BIIB105 / ION541, due to failure to show efficacy in slowing disease progression as indicated by the ALSpire study results [1][2]. Group 1: Drug Development and Study Results - The decision to halt BIIB105's development was based on topline data from the phase I/II ALSpire study, which showed no reduction in plasma neurofilament light chain (NfL) levels in ALS patients after six months of treatment [2]. - Patients treated with BIIB105 did not show improvements in clinical outcome measures related to function, breathing, and strength [2]. - Ionis intends to advance ION582, an experimental drug for Angelman Syndrome, independently after Biogen opted out of licensing rights for this drug [3][6]. Group 2: Market Performance and Company Impact - Following the announcement, shares of Ionis Pharmaceuticals and Biogen fell by at least 2% in market capitalization [1]. - Year-to-date, Biogen's shares have decreased by 11.1%, while Ionis has seen a more significant decline of 25.6% [3][6]. - Despite the setbacks, Ionis reported positive topline results from the HALOS study for ION582, indicating safety and improvements in cognitive, communication, and motor functions [5][6]. Group 3: Ongoing Collaborations and Future Prospects - Biogen and Ionis have a long-standing partnership that has previously yielded successful drugs like Spinraza and Qalsody for treating ALS [7][8]. - Both companies continue to develop investigational medicines for neurodegenerative diseases, including Alzheimer's and Parkinson's [8].