Axovant Sciences (AXON) puts active after Lundbeck Alzheimer's study fails

September 22, 2016 12:41 PM EDT
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Axovant Sciences (NYSE: AXON) October 12.50 and 15 puts are active on total put volume of 1,700 contracts (72 puts) after a competitor, H. Lundbeck A/S, announced "disappointing" findings from the first clinical phase III study in its ongoing phase III program evaluating the efficacy of the investigational drug idalopirdine for the symptomatic treatment of patients with mild to moderate Alzheimer's disease. October call option implied volatility is at 114, November is at 108; compared to its 52-week range of 62 to 115.

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