Biogen Investors Face Next Test in Gamble on Alzheimer’s Disease
- Nearly year-long saga faces next hurdle after drug filing
- Biotech’s value has swung by almost $25 billion in past year
Signage is displayed in front of Biogen Inc. headquarters in Cambridge, Massachusetts, U.S.
Photographer: Scott Eisen/Bloomberg
Investors betting on Biogen Inc.’s back-from-the-dead Alzheimer’s drug are approaching a key hurdle in a wild saga that has already spanned nearly a year.
The next test for bulls and bears is how U.S. regulators respond to the company’s drug application in the coming months. Acceptance of the filing with a priority review designation would signal to Wall Street that the Food and Drug Administration urgently wants to approve a medicine for Alzheimer’s disease. On the other hand, a standard review could give investors pause and an agency refusal to review the application would stop momentum in its tracks and send shares spiraling.