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Biogen’s stock blasts off after surprise reversal on Alzheimer’s drug, earnings beat

October 23, 2019


Shares of Biogen Inc. blasted off Tuesday to their best gain in 20 years, after the biotechnology company surprised investors by saying its Alzheimer’s treatment was ready to start the regulatory approval process, and following third-quarter earnings that rose well-above expectations.

The company BIIB, +26.11% and its Japan-based partner Eisai Co. Ltd. ESALY, +32.50% 4523, +18.07% said its decision to pursue approval of aducanumab, an treatment for early Alzheimer’s diseases was made after the drug met the primary endpoint of a Phase 3 Emerge study, and after consulting with the U.S. Food and Drug Administration.

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