BIIB - Biogen investors brace for mother of all binary events as FDA is set to decide on Alzheimer's therapy

Photo by selvanegra/iStock via Getty Images Biogen ([[BIIB]] +0.3%) shares have reached the highest level in the year so far as the investors eagerly await the FDA decision on aducanumab, the experimental therapy against Alzheimer’s disease. The FDA set a new action date for June 07 when it extended the review period for Biologics License Application ((BLA)) filed by Biogen and Eisai Co. (ESALF) for aducanumab by three months in January. An expert panel from the FDA voted against the approval in November after the treatment showed mixed results in late-stage studies. A regulatory decision on aducanumab within trading hours is likely to trigger a trading halt before the announcement. As shown in the graph, the company has well-outperformed the broader market in the year so far. J.P. Morgan Chase analyst Cory Kasimov identified the upcoming FDA decision as “the mother of all binary events.” A favorable outcome could propel Biogen up to $450

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Biogen investors brace for “mother of all binary events” as FDA is set to decide on Alzheimer’s therapy