biotech1 month ago
Ultragenyx Angelman therapy fails Phase 3, triggering 43% stock plunge
Ultragenyx’s experimental drug apazunersen failed to show benefit over a sham treatment in a Phase 3 trial for Angelman syndrome, causing its stock to drop 43%. The company is now reviewing the program’s future and planning significant expense reductions, while analysts downgrade the stock due to the loss of a key profitability driver.