Biogen Plunges After Alzheimer’s Blow, Analysts Downgrade

(Bloomberg) — Biogen Inc. shares plunged early on Monday and analysts braced for further declines after a U.S. Food and Drug Administration advisory panel harshly judged the efficacy of the company’s experimental Alzheimer’s disease therapy, dimming prospects it will be approved by the agency.The stock fell 32% as futures trading resumed on Nasdaq after shares were halted on Friday.Wall Street firms didn’t mince words over the weekend about the panel’s findings, which was that data from a single clinical trial with positive results was insufficient to show the treatment worked. Raymond James called it a “disaster,” while Baird wrote that …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.