Biogen plans to pursue approval for an early Alzheimer’s treatment, after pulling the plug on phase 3 studies of the drug this year
Change in plans follows an analysis of a larger dataset from studies of aducanumab; share price surges on the newsBiogen Inc. said it plans to pursue regulatory approval for aducanumab, an investigational treatment for early Alzheimer’s disease, after pulling the plug on phase 3 studies of the drug earlier this year.
Shares of Biogen surged 40% in premarket trading, putting the company on track to add more than $16 billion in market value. When the company and partner Eisai & Co. in March said they would terminate the late-stage studies, Biogen lost about $18 billion in market value.
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