- As is so often the case, good news for one biotech is bad for another. Allergan (AGN +1.1%) is in the green after reporting positive data on CGRP receptor antagonist atogepant for the prevention of migraine.
- Alder Biopharmaceuticals (ALDR -3.5%) is in the red, albeit on below-average volume, as some investors react to the potential threat to lead candidate eptinezumab, a monoclonal antibody CGRP inhibitor in late-stage development for migraine prevention. A U.S. marketing application is on tap for early 2019.
- Previously: Alder's eptinezumab shows treatment benefit in late-stage migraine study (April 24)