Alzheimer's filing delay sees Biogen shares slump
Biogen (Nasdaq: BIIB) has reported revenue of $3.5 billion for the first quarter of 2020, up 1%, with income at $1.4 billion or $8.08 per share, up from $7.15 per share.
The results were driven by better demand and a bigger-than-expected profit on spinal muscular atrophy (SMA) drug Spinraza (nusinersen), and multiple sclerosis (MS) drug Tecfidera (dimethyl fumarate).
While the performance exceeded many analysts’ expectations, investors may be concerned about a delay to a planned regulatory submission for the investigational Alzheimer’s drug aducanumab.
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