Biogen Falls Premarket As Eye Disease Treatment Fails Test

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Investing.com — Biogen (NASDAQ:BIIB) shares were trading weaker in Tuesday’s premarket trading as the company’s study testing a treatment for a rare eye disease failed to meet its target.

The eye disease, known as choroideremia, is a rare inherited retinal disease that results in progressive vision loss, ultimately leading to blindness.

Biogen tested its timrepigene emparvovec (BIIB111/AAV2-REP1), an investigational gene therapy, for the potential treatment of choroideremia.

The phase-3 study, STAR, evaluated the safety and efficacy of a single subretinal injection of investigational timrepigene emparvovec.

The disappointing findings come as the biotech firm’s decision to price its recently-approved treatment for Alzheimer’s at $56,000 faces stiff resistance.