BioMarin Discontinues Multiple Voxzogo Phase 2 Trials Citing Adverse Events
BMRN is trading near its 52-week low of $50.76 (13% above the low).
Summary
BioMarin Pharmaceutical has announced the discontinuation of its Phase 2 trials for Voxzogo in Turner Syndrome, Shox-Deficiency, and Acan-Deficiency. This decision follows the occurrence of several slipped capital femoral epiphysis events observed in two ongoing investigator-sponsored trials. While Voxzogo remains approved for achondroplasia and other Phase 2 trials for Noonan Syndrome and Idiopathic Short Stature will continue, this move significantly curtails the drug's potential market expansion into these additional indications. The adverse events, even if specific to these patient populations, introduce a negative clinical data point and reduce future revenue upside for the company. Investors will now focus on the progress and safety profiles of the remaining Voxzogo trials.
At the time of this announcement, BMRN was trading at $57.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $11.3B. The 52-week trading range was $50.76 to $73.18. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.