Biogen shares down as IPF study is halted

19 September 2019

US biotech Biogen (Nasdaq: BIIB) closed 1.5% down on Wednesday.

The firm has shut down its Phase II study of BG00011 in idiopathic pulmonary fibrosis because of safety concerns, according to a filing on ClinicalTrials.gov.

BG00011, formerly known as STX-100, is a monoclonal antibody that was picked up by Biogen in its acquisition of Stromedix in 2012. The upfront cost of the deal was $75 million, with additional contingent value payments of up to $487.5 million.

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