Biogen Traders Poised for FDA Verdict on Alzheimer’s Treatment
- Date: 07-Jun-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Biogen Traders Poised for FDA Verdict on Alzheimer’s Treatment
(Bloomberg) -- Investors are getting emboldened with Biogen Inc. shares climbing more than 9% over the last four sessions ahead of a regulatory decision on the biotech company's Alzheimer's disease medicine. The stock gained almost 1% Monday at 10:15 a.m. in New York.
The Food and Drug Administration is expected to render its verdict on aducanumab sometime on Monday, though Wall Street is trying to prepare for a variety of scenarios, including the potential for another delay.
Investors meanwhile have been doing some last-minute positioning, according to Goldman Sachs strategist Asad Haider. Analysis of June 11 options imply a 25% move in either direction for Biogen's stock, he wrote in a research note late Friday.