Biogen Inc (BIIB)

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DJ Biogen Alzheimer's Delay Feeds Investor Uncertainty About Drug -- Market Talk
Dow Jones News11:08 AM Eastern Daylight Time Apr 22, 2020

1108 ET - An unexpected delay in Biogen's bid to win approval for its experimental Alzheimer's drug spooking traders as analysts speculate that FDA has become more skeptical toward the drug and its controversial clinical trial data. "Perhaps regulator sentiment has shifted, new questions have emerged, or even new data is needed," Cantor Fitzgerald says. Biogen aims to complete FDA filing in 3Q, versus previous expectation of early 2020. The company is adamant that "fundamentally there are no big changes and no new questions," as R&D chief Al Sandrock tells analysts on 1Q earnings call. The company says the slower pace caused by its focus on submitting a high-quality filing and the fact that some team members were infected by Covid-19. Biogen down 10%. ([e-mail])