The outside of the headquarters of biotechnology firm Biogen in Cambridge, MA is pictured on March 21, 2019.John Tlumacki | Boston Globe | Getty Pi
The outside of the headquarters of biotechnology firm Biogen in Cambridge, MA is pictured on March 21, 2019.
John Tlumacki | Boston Globe | Getty Pictures
Biogen shares rose Thursday after the biotech agency offered more data on its late-stage Alzheimer’s drug, aducanumab.
The information, offered on the Medical Trials on Alzheimer’s Illness convention, supplied nearly no new outcomes from what the corporate beforehand launched in October. Nevertheless, analysts who parsed by means of it, mentioned the dearth of any new negatives within the report implies that they anticipate the corporate will take the info to the Meals and Drug Administration.
“The information is so complicated,” mentioned Jared Holz, a health-care strategist at Jefferies, including the report did present a slighter higher response to the drug at increased doses.
Shares of Biogen had been up greater than 4% after falling 3% instantly on the information. Previous to the announcement, Biogen shares had been halted at $286.83. The inventory, which had a market worth of almost $52 billion on the time, is down almost 5% because the begin of the yr.
The drug targets a compound within the mind referred to as beta-amyloid, which is believed to play a task within the devastating illness.
In March, Biogen pulled the plug on its drug after an evaluation from an unbiased audit revealed the experimental medication was unlikely to work. The information despatched its inventory tumbling. Nevertheless, shares…