Biogen falls 5% after death in Alzheimer's drug trial

EPA-EFE/CJ GUNTHER

Biogen Inc.'s shares plummeted over 5% on Monday, setting the stage for further declines before the opening bell on Wall Street, as a second death in the company's Alzheimer's drug trial was reported.

Biogen Inc. partnered with Japanese pharmaceutical company, Eisai, announcing their experimental treatment of Alzheimer's disease back in March. The second death associated with the Phase 3 experiment since the trial started occurred in a 65-year-old woman with early-stage Alzheimer's disease who experienced a fatal brain bleed while receiving the therapy. The first patient, an 80-year-old participant, also died of a hemorrhage.

The biotechnology giant's stock slumped 5.47% at 7:26 am ET, going to $288.46 per share in the premarket trading.

Baha Breaking News (BBN) / AB