Biogen’s Temporary Suspension of TMS-007 Development and Dependence on Partners
First written in FY2023. 2 of 4 entries say "Worsened", first in FY2024-Q2. Latest entry: FY2025.
Tms moved to the "Worse" side of this theme in 2023, 2 years before the typical company in this theme (2025).
The whole theme swung hardest in 2020: 2 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Reframed".
- FY2025ReframedAnnual report
「Biogen exercised its option under the option agreement and subsequently transferred its rights to CORXEL, meaning that CORXEL will primarily conduct future development of TMS-007.」
After Biogen transferred its rights, CORXEL became the primary developer of TMS-007, creating the current dependence-on-partner risk. - FY2024-Q3WorsenedAnnual report
「Following Biogen’s strategic change, it decided to transfer its position under the option agreement to a third party and selected Ji Xing Pharmaceuticals Hong Kong Limited, a subsidiary of JIXING. JIXING HK will consider the specific development strategy for TMS-007 going forward.」
Biogen’s strategic change resulted in the contractual position being transferred to JIXING HK, leaving the specific TMS-007 development strategy to be considered by the new partner. - FY2024-Q2WorsenedAnnual report
「Biogen announced at its 25 April 2023 first-quarter results presentation that it had temporarily suspended the start of the late Phase II clinical trial for TMS-007 (BIIB131) and would reassess whether to begin it. The situation remained unchanged at its 25 July 2023 second-quarter results presentation and continues to date. The expected trial start date in the ClinicalTrials.gov registration was updated twice and is now listed as 1 December 2023.」
Biogen’s suspension and reassessment continued, and the expected start date on ClinicalTrials.gov was updated to 1 December 2023, increasing the risk of development delays. - FY2023MaterialisedAnnual report
「At its 25 April 2023 announcement of first-quarter results, Biogen announced that it had temporarily suspended the start of the late Phase II clinical trial for TMS-007 (BIIB131) and would reassess whether to begin it.」
Biogen publicly announced the suspension and reassessment of the late Phase II trial, highlighting uncertainty over TMS-007’s development progress and revenue.