By Kuldip K. Ambastha
Biogen Inc. (BIIB), a biotech company, had a memorable Monday of this past trading week. On Monday, June 7, 2021, Biogen had a +38.3% gain for the day on its stock. Biogen’s Alzheimer’s disease treatment was approved by the U.S. Food and Drug Administration (FDA) as part of an accelerated approval process. The intravenous infusion treatment is called ADUHELM (Aducanumab), and a wholesale treatment price for it is $56,000 per year. In approximately two weeks from now, Biogen is expecting to start shipping the treatment to various infusion centers. Cost and efficacy concerns exist around ADUHELM, which is not a full cure for Alzheimer’s disease.
While controversial, ADUHELM may improve the lives of people suffering from Alzheimer’s disease. As part of the accelerated approval process, the FDA has required a Phase 4 clinical trial to further assess ADUHELM. After the results of the Phase 4 clinical trial are known and analyzed, the FDA could take ADUHELM out of circulation. For now, investors in the stock benefited from the +38.3% gain seen from ADUHELM on Monday, June 7, 2021 for Biogen, a company in the boldly innovative and highly volatile biotech sector.
For past coverage of this stock, see below:
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in BIIB.
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