Biogen's Stock Could More Than Quadruple in Value in 5 Years
Biogen's (NASDAQ: BIIB) stock caught fire yesterday. Although the biotech posted stellar third-quarter results that surpassed analysts' expectations ahead of the opening bell on Tuesday, the real market-mover proved to be the unexpected news about its Alzheimer's disease candidate, aducanumab.
Specifically, the company performed a new analysis on a larger data set that reportedly revealed a significant clinical benefit for at least some Alzheimer's disease patients who were administered a high dosage of the drug in the study. Biogen said that it now plans on filing for the drug's approval in the U.S. in early 2020, following encouraging discussions with the Food and Drug Administration.
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Source Fool.com
