Biogen shares head for lowest since 2016 after Alzheimer's trial discontinued
Shares of Biogen Inc. BIIB, -0.98% plummeted 26% toward a near 3-year low in premarket trade Thursday, after the biotechnology company and Japan's Eisai Co. Ltd. 4523, -0.24% ESALY, -0.55% said Thursday they have decided to discontinue late-stage trials of a treatment for Alzheimer's disease, after an independent data monitoring committee said they were unlikely to meet its primary goal.
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