Axovant Sciences Ltd (AXON.OQ)
20 Feb 2018
Wed, Feb 14 2018
* AXOVANT SCIENCES LTD - ON FEBRUARY 12, INITIATED A CORPORATE REALIGNMENT THAT INCLUDED A REDUCTION IN ITS WORKFORCE - SEC FILING
Axovant Sciences Ltd's shares sank 20 percent to an all-time low on Monday after Chief Executive David Hung resigned following 10 months at the biotech firm, during which its lead drug candidate failed two key trials.
* Axovant shares fall 20 percent to record low (Adds quotes from incoming CEO, Roivant founder, background on David Hung; updates stock price)
Feb 12 Axovant Sciences Ltd on Monday said Chief Executive Officer David Hung had resigned, nearly a year after his appointment.
Axovant Sciences Ltd's shares plunged nearly 50 percent on Monday after the company scrapped its lead experimental dementia treatment following back-to-back trial failures.
* Shares down 50 pct (Updates shares, adds background on disease space, company's comments on second experimental drug)
** Drug developer's shares plunge 47.1 pct to $2.84 premarket - stock set to open at record low
Axovant Sciences Ltd's shares fell nearly 50 percent on Monday after the company scrapped its intepirdine program following the failure of its lead experimental treatment in a mid-stage study on patients suffering from a type of dementia.
Jan 8 Axovant Sciences Ltd said on Monday it would discontinue its intepirdine program after the experimental treatment failed in a mid-stage study on patients suffering from a type of dementia.
BRIEF-Axovant Announces Negative Results For Intepirdine In Phase 2B Headway, Pilot Phase 2 Gait, Balance Studies
* AXOVANT ANNOUNCES NEGATIVE RESULTS FOR INTEPIRDINE IN PHASE 2B HEADWAY AND PILOT PHASE 2 GAIT AND BALANCE STUDIES; POSITIVE TRENDS IN EFFICACY SEEN IN PILOT PHASE 2 NELOTANSERIN STUDY