The analysts swiftly began writing off Neurochem's Alzhemed after the company announced last night that its lead drug had failed a late-stage trial for Alzheimer's. The news sent Neurochem's stock into a tailspin, shaving off 30 percent of the company's share value. RBC Capital analyst Philippa Flint told investors that the Canadian company is likely to wait until it gets late stage data from a European trial, but she and others aren't giving the drug much chance of survival. "Alzhemed is dead," sums up Cormark Securities analyst David Dean.
- read the report [1] from the Financial Post
Related Articles:
Investors push up Neurochem stock on data review. Report [2]
Neurochem asked to put up more Kiacta data. Report [3]
Links:
[1] http://communities.canada.com/nationalpost/blogs/tradingdesk/archive/2007/08/27/neurochem-hammered-on-negative-alzhemed-trial.aspx
[2] http://www.fiercebiotech.com/story/investors-push-up-neurochem-stock-on-data-review/2007-06-11
[3] http://www.fiercebiotech.com/story/neurochem-asked-to-put-up-more-kiacta-data/2006-08-14