Biogen Wins Approval with FDA for Alzheimer’s Drug

This morning Biogen (NASDAQ:BIIB) received approval from the FDA for their Alzheimer’s drug aducanumab. The FDA decision marks the first new Alzheimer’s disease drug since 2003 to receive approval and the first that aims to slow disease progression.

The drug aims to remove sticky deposits of a protein called amyloid-beta from the brains of patients in earlier stages of Alzheimer’s. The goal of the drug is to stave off its ravages, which include memory loss and the ability to care for one’s self.

The FDA decision was originally supposed to land in March, but was extended in January for additional review. The early data on the drug showed mixed results with some doctors saying clinical trial results were inconsistent and further confirmation was needed.

Before this decision landed, J.P. Morgan analyst Cory Kasimov called the FDA’s decision “the mother of all binary events.”

The stock is currently halted and last traded at $286.43


Information for this briefing was found via the FDA, Biogen, JP Morgan, and Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

FDA Declares Lab-Grown Chicken Safe for Human Consumption

The US Food and Drug Administration (FDA) has approved lab-grown meat for human consumption, marking...

Thursday, November 17, 2022, 04:49:26 PM

JUUL Slapped with FDA Warning Letter for Health Claims

JUUL Labs, an e-cigarette products company that is 35% owned by Altria (NYSE: MO) and...

Monday, September 9, 2019, 12:01:14 PM

Tobacco (Finally) Falls Out of Favor As Legal Marijuana Continues to Gain Public Support

American society is witnessing a remarkable shift in attitudes toward cannabis and tobacco. Once upon...

Monday, March 13, 2023, 08:09:52 AM

Samsung In Talks To Acquire Biotech Firm Biogen In A US$42 Billion Deal

The Samsung Group is reportedly in negotiations to acquire biotech firm Biogen (Nasdaq: BIIB). The...

Thursday, December 30, 2021, 11:40:00 AM

Revive Files Clinical Trial Application With Health Canada, Releases Phase 3 FDA Study Design For Potential Treatment Of COVID-19

Revive Therapeutics (CSE: RVV) continues to advance its clinical trial efforts. The company announced this...

Wednesday, June 3, 2020, 11:30:38 AM