Benzinga | Sep 16, 2021 01:20PM EDT

Biogen Reports Mixed Phase 2 Data For Its Non-Opioid Pain Candidate

* Biogen Inc (NASDAQ:BIIB) has announced topline results from its Phase 2 CONVEY study of vixotrigine (BIIB074) for small fiber neuropathy (SFN).

* SFN is a disorder in which only the small sensory cutaneous nerves are affected and is often characterized by severe pain that typically begins in the feet or hands.

* Vixotrigine is a non-opioid investigational oral pain drug.

* The CONVEY study 200 mg twice daily arm met its primary endpoint of change from baseline to week 12 in mean average daily pain (ADP) score.

* Numeric advantage of 200 mg over placebo was observed in additional secondary endpoints, including the proportion of participants with at least 2-point improvement in the average daily pain score and the proportion of participants with over 30% reduction in ADP at week 12, but these did not meet statistical significance.

* While the 350 mg twice daily arm did not meet the primary endpoint, it met statistical significance in the Patient Global Impression of Change (PGIC) at week 12, a self-reported measure of a patient's overall improvement.

* The totality of data from the vixotrigine program will inform potential doses for study in future Phase 3 clinical trials.

* Both doses of vixotrigine were generally well tolerated.

* Vixotrigine (BIIB074) is an investigational peripherally and centrally acting, orally-administered, voltage- and use-dependent voltage-gated sodium channel blocker.

* UBS analyst Colin Bristow maintains Biogen with a Buy and lowers the price target from $475 to $442.

* Price Action: BIIB stock is up 0.60% at $301.02 during the market session on the last check Thursday.