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Biogen's Alzheimer’s drug shows cognitive benefits but misses primary trial goal; stock drops nearly 5%.

Market News
14 May 2026
Vandana Singh
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Neutral
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Biogen reported Phase 2 trial results for diranersen, a tau-targeting therapy for early Alzheimer’s, showing cognitive benefits and reduced tau biomarkers despite missing the primary endpoint. The drug slowed cognitive decline across doses, especially at the lowest dose, and was generally safe. Analysts remain cautiously optimistic about its potential and Biogen plans to continue development. Separately, Biogen completed its acquisition of Apellis Pharmaceuticals, adding two commercial nephrology drugs to its portfolio, expected to boost revenue by 2027. Biogen’s stock fell nearly 5% following the announcement.

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