Why an Upcoming FDA Meeting Is Critical for Biogen Stock

Ever since Biogen (NASDAQ: BIIB) revived a phase 3 Alzheimer's program a year ago, investors have been waiting with bated breath for the next steps. The company submitted aducanumab, the investigational Alzheimer's treatment, for regulatory review in July. Now, an advisory committee is set to meet on Nov. 6 to weigh in on whether the U.S. Food and Drug Administration (FDA) should approve the drug candidate.

The meeting is particularly important for Biogen considering the company's most recent earnings report. The biotech cut its 2020 earnings forecast due to generic competition weighing on its multiple sclerosis (MS) blockbuster drug, Tecfidera. Biogen also reported declining sales for its overall MS portfolio. A win for its Alzheimer's treatment candidate would offer Biogen a much-needed new growth driver. Let's take a look at where things stand.

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Source Fool.com