What's Going On With Biogen Stock Thursday
Portfolio Pulse from Henry Khederian
The U.S. FDA has granted traditional approval to Leqembi (lecanemab), a drug for treating Alzheimer's Disease, developed by Eisai Inc. and Biogen Inc. Eisai and Biogen have been collaborating on the development and commercialization of Alzheimer's treatments since 2014. Biogen's shares were flat in Thursday's after-hours session after falling marginally by 0.31% to $284.99 during regular trading.
July 06, 2023 | 9:08 pm
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Biogen's Alzheimer's drug, developed in partnership with Eisai, received traditional approval from the FDA. Biogen's shares remained flat after a slight drop in regular trading.
The FDA's approval of Biogen's Alzheimer's drug, developed in partnership with Eisai, is a significant positive development for the company. This could potentially boost the company's revenues and profitability in the future. However, the impact on the stock price was neutral in the short term, with shares remaining flat after a slight drop in regular trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100