Denali & Biogen Halt Parkinson's Drug BIIB122 After Phase 2b Failure
DNLI sits 42% above its 52-week low of $12.58.
Summary
Denali Therapeutics and Biogen are discontinuing their Parkinson's disease drug BIIB122 after it failed to meet primary and secondary endpoints in the Phase 2b LUMA study. This is a significant clinical setback, removing a key pipeline asset for a major indication. The news follows a recent period of mixed developments for Denali, including an FDA approval for AVLAYAH but also a collaboration termination with Takeda. Denali will continue a separate Phase 2a study for BIIB122 in LRRK2 variant carriers, with data anticipated in the first half of 2027.
At the time of this announcement, DNLI was trading at $17.86 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $12.58 to $23.77. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Wiseek News.