Biogen Inc. Common Stock (BIIB)
Biogen Inc. is a biotechnology company specializing in the development and commercialization of therapies for neurological and neurodegenerative diseases. Founded in 1978, it is known for its work in multiple sclerosis, spinal muscular atrophy, and Alzheimer's disease. Biogen focuses on innovative biologic medicines and research-driven solutions to address complex neurological conditions.
Company News
Biogen acquires Alcyone Therapeutics for $85 million to develop ThecaFlex DRx, an innovative drug delivery system for Spinraza, targeting improved treatment for spinal muscular atrophy patients by 2028.
C4 Therapeutics saw a significant stock price increase of over 34% after Stephens analyst Sudan Loganathan upgraded the stock to overweight, citing promising pipeline progress and potential in multiple myeloma drug market.
Eisai initiated a supplemental FDA application for LEQEMBI IQLIK, a subcutaneous autoinjector for early Alzheimer's disease treatment, which could offer patients an at-home injection option for the first time.
Several S&P 500 stocks posted sharp declines in 2024, despite a generally bullish year for the index. These battered stocks could be ripe for a turnaround in 2025, as investors look for undervalued gems in the market.
Biogen reported strong Q2 results, beating earnings and revenue estimates. The company raised its 2024 guidance, driven by growth in new products like Leqembi and Skyclarys, offsetting declines in key multiple sclerosis drugs. However, the termination of a program with Denali Therapeutics weighed on the stock.
