Bulletin
Investor Alert

New York Markets After Hours

Market Pulse Archives

March 24, 2021, 3:03 p.m. EDT

Ionis shares tumble 19% after Roche halts Phase 3 study for rare-disease drug

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Ionis Pharmaceuticals Inc. (IONS)
  • X
    Roche Holding AG (ROG)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Jaimy Lee

Shares of Ionis Pharmaceuticals Inc. /zigman2/quotes/201272020/composite IONS -3.17% were down 19.6% in premarket trading on Tuesday, the day after the company said Roche Holding AG /zigman2/quotes/206324342/delayed CH:ROG +0.79% decided to discontinue a late-stage clinical trial for a Huntington's disease treatment candidate. Roche licensed the investigational therapy, tominersen, from Ionis in December 2017. However, an independent data monitoring committee first made the recommendation to discontinue the study. "The program isn't necessarily dead, but it's unlikely to drive much value for the stock near term," Bernstein's Vincent Chen wrote in a note to investors on Tuesday. "This discontinuation doesn't mean that the program is dead. It depends on why it failed." Ionis' stock is up 33.7% over the past 12 months, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX -0.42% has gained 70.9%.

/zigman2/quotes/201272020/composite
US : U.S.: Nasdaq
$ 44.26
-1.45 -3.17%
Volume: 1.12M
Aug. 9, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.48 billion
Rev. per Employee
$1.27M
loading...
/zigman2/quotes/206324342/delayed
CH : Switzerland: SWX
CHF 318.35
+2.50 +0.79%
Volume: 785,520
Aug. 9, 2022 5:31p
P/E Ratio
18.01
Dividend Yield
2.92%
Market Cap
CHF260.74 billion
Rev. per Employee
CHF637,961
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,122.47
-17.59 -0.42%
Volume: 2.22B
Aug. 9, 2022 4:20p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.