Biogen shares jump 27% after the company revived plans to seek U.S. approval for Alzheimer’s treatment aducanumab For more business coverage, follow ReutersBiz
) revived plans on Tuesday to seek U.S. approval for Alzheimer’s treatment aducanumab, surprising investors and saying data from more patients in two discontinued studies showed the drug reduced the decline of patients suffering from the disease.
Filing with U.S. regulators could “potentially bring back to life a drug that had been completely left for dead,” RBC Capital Markets analyst Brian Abrahams wrote in a note. The company said that the results of patients in the failed second trial who had received high doses also supported the findings of the first.
Credit Suisse analyst Evan Seigerman said the agency was under no obligation to approve the drug even if it gave its blessing to the initial filing for approval.
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