BioMarin stops mid-stage trials of bone disorder treatment

BioMarin will discontinue mid-stage trials of its bone disorder treatment after reports of several patients' hip joints slipping out of place; shares fell about 4% on the announcement. The action is a material pipeline setback that could delay or eliminate future revenue from the program and increase regulatory and safety scrutiny, negatively affecting near-term company outlook.

Analysis

BioMarin will discontinue mid-stage trials of its bone disorder treatment after reports of several patients' hip joints slipping out of place; shares fell about 4% on the announcement. The action is a material pipeline setback that could delay or eliminate future revenue from the program and increase regulatory and safety scrutiny, negatively affecting near-term company outlook.