Biogen drops after report on second death linked to Alzheimer’s candidate
Artur Plawgo

Biogen (NASDAQ:BIIB) shed ~5% on Monday, the biggest intraday decline in nearly two months after the journal Science reported a death linked to the Alzheimer's candidate lecanemab the company is advancing with its Japanese partner Eisai (OTCPK:ESALY) (OTCPK:ESALF).
Based on an unpublished case report, the journal said that a 65-year-old woman receiving the anti-amyloid antibody as part of a clinical study died from a massive brain hemorrhage, which some investigators have linked to the experimental therapy.
In October, Stat News also reported that a subject in the lecanemab trial died after a cerebral bleeding event linked to the treatment.
In September, Biogen (BIIB) and Eisai (OTCPK:ESALY) said that early data indicated lecanemab reached the primary goal in a Phase 3 trial for Alzheimer's. Detailed results from the 1,800-subject trial are expected this week.
Eisai (OTCPK:ESALY) did not comment on the incident, including whether it previously knew about the woman's death. "All the available safety information indicates that lecanemab therapy is not associated with an increased risk of death overall or from any specific cause," the company said.
Alzheimer's drug developers led by Anavex Life Sciences (AVXL), Alzamend Neuro (ALZN), and AC Immune (ACIU) are on the decline in mid-day trading today.
Anavex's (AVXL) selloff comes after the company reported financials for fiscal 2022 before the opening bell.