Biogen rises after FDA clears at-home use of Alzheimer's drug
BIIB•What the FDA said about the treatment
Leqembi is approved for early Alzheimer's disease, a memory-robbing brain disorder affecting more than 6.5 million Americans.
The FDA said data showed the injection achieved drug exposure comparable to the intravenous regimen, supporting similar efficacy and safety. The agency also recommends genetic testing before treatment because certain patients face a higher risk of side effects.
Including session's moves, the stock is up about 18% year to date.
Biogen shares rise after FDA clears at-home use
Shares of drugmaker Biogen BIIB.O rose 5.3% to $209.69 after the U.S. Food and Drug Administration approved a starting dose regimen for the under-the-skin injection of Eisai and Biogen's Alzheimer's drug Leqembi, allowing patients to begin treatment at home.
Previously, Leqembi was approved only with an intravenous starting dosage before patients could transition to other dosing options.
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