|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11,890.00 - 12,555.00|
|52 Week Range||6,705.00 - 12,765.00|
|Beta (5Y Monthly)||0.50|
|PE Ratio (TTM)||82.16|
|Earnings Date||Aug 02, 2021 - Aug 06, 2021|
|Forward Dividend & Yield||160.00 (1.32%)|
|Ex-Dividend Date||Sep 29, 2021|
|1y Target Est||11,480.00|
Biogen Inc and Japanese partner Eisai Co said on Wednesday the U.S. Food and Drug Administration had granted breakthrough therapy designation to their experimental therapy, lecanemab, for patients with early Alzheimer's. The drug works in a similar manner to Biogen's Aduhelm, which was approved earlier this month. It removes sticky deposits of a protein called amyloid beta from the brains of patients in the earlier stages of Alzheimer's in order to stave off its impact, including memory loss and the inability to take care of oneself.
Biogen Inc and partner Eisai Co Ltd said on Wednesday they were working to speed up completion of a confirmatory trial of their controversial Alzheimer's drug that was recently given an accelerated approval by the U.S. drug regulator. The U.S. Food and Drug Administration approved the drug on June 7 using its accelerated approval pathway, which requires a study to confirm the drug works as intended, and gave a deadline of nine years ending 2029 for the trial. The FDA approved the drug - despite strong objection of its own expert advisory panel - for all patients with Alzheimer's, although Aduhelm has only been tested for patients in the early stages of the disease.
The biotech sector was in focus last week with pipeline updates from Biogen (BIIB) and CureVac (CVAC), among others.