BIIB, DNLI Stocks Edge Lower After Hours: Parkinson’s Drug Misses Key Goals In Trial

• Despite the miss, the companies said the medicine was generally well tolerated with an acceptable safety profile and demonstrated strong target engagement in the body.
• Biogen and Denali will stop further development of BIIB122 for the broader idiopathic form of Parkinson’s. 
• Denali will continue its separate early-to-middle BEACON study of the same drug, but only in the smaller group of patients who carry a specific genetic mutation.

Shares of Biogen Inc. (BIIB) slipped about 1% in after-hours trading on Thursday after the company and partner Denali Therapeutics (DNLI) announced that their mid-stage LUMA study of an experimental Parkinson’s disease drug failed to meet its primary and secondary goals. 

DNLI stock, meanwhile, fell 7% after hours. 

The late-stage trial tested BIIB122, also known as DNL151, a small-molecule pill designed to block overactive LRRK2 — a protein linked to Parkinson’s — in hopes of slowing disease progression in people with early-stage idiopathic Parkinson’s. The study did not show that the drug slowed the worsening of motor and daily-living symptoms compared with placebo, as measured by a standard Parkinson’s rating scale.

Parkinson's Disease is a progressive neurological disorder caused by the loss of dopamine-producing neurons in the brain. It leads to unintended movement issues, as well as non-motor symptoms like cognitive impairment, depression, and sleep problems.

What Next For The Experimental Therapy?

Despite the miss, the companies said the medicine was generally well tolerated with an acceptable safety profile and demonstrated strong target engagement in the body. As a result, Biogen and Denali will stop further development of BIIB122 for the broader idiopathic form of Parkinson’s.

Denali will continue its separate early-to-middle BEACON study of the same drug, but only in the smaller group of patients who carry a specific genetic mutation that over-activates LRRK2. Results from that trial are expected in the first half of 2027.

“While these are not the results we hoped for, these data provide important information to the Parkinson’s community and will be presented at an upcoming scientific conference,” said Diana Gallagher, Senior Vice President and Head of Neurodegeneration Clinical Development at Biogen.

Peter Chin, Chief Medical Officer at Denali Therapeutics, added that the companies will analyze the full data set alongside upcoming BEACON results to decide next steps.

How Did DNLI, BIIB Retail Traders React?

On Stocktwits, retail sentiment around BIIB and DNLI stocks were ‘bearish’ at the time of writing, coupled with ‘high’ message volume.

While BIIB stock has gained 49% over the past 12 months, DNLI added 41%. 

Read More: IMAX Stock Soars After Hours Following News Of Early-Stage Sale Process

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