BIIB - Biogen surges ahead of key FDA decision amid mixed views on potential Alzheimer's therapy

Photo by selvanegra/iStock via Getty Images Biogen (BIIB) rose ~5.0% on Friday to outperform the broader market for the week as it awaits FDA approval for aducanumab, the experimental therapy against Alzheimer’s disease co-developed by the company with Eisai (ESALF). While scientists question the efficacy of aducanumab which had a mixed performance in late-stage trials, the patient advocacy groups continue to stand behind the treatment. "We support a decision for approval of aducanumab ... It ushers in a new era of potential treatments," Reuters quoted Dr. Joanne Pike, chief strategy officer at the Alzheimer's Association as saying. However, the analysts appear divided on the potential for aducanumab to secure a regulatory nod. Citing management comments over plans for its commercialization, Oppenheimer raised the probability of approval to 50% from 30%. Recently, Mizuho analyst Salim Syed estimated Biogen shares could reach ~$400 or ~$200 depending on the FDA decision. Meanwhile, Bank of America remains cautious with the

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Biogen surges ahead of key FDA decision amid mixed views on potential Alzheimer’s therapy