Why Biogen’s Stock Ripped Higher in July

Biogen’s double-digit move higher last month stemmed from two material events:Biogen and partner Eisai reported encouraging midstage results for the experimental Alzheimer’s disease drug BAN2401. Biogen reported that sales of the spinal muscular atrophy drug Spinraza — co-owned by Ionis Pharmaceuticals 108% in the second quarter from the same period a year ago. While Spinraza’s strong commercial momentum certainly helps on this front, investors are undoubtedly looking toward Biogen’s high-value Alzheimer’s disease pipeline as the key to future growth. The Alzheimer’s disease market, after all, represents a monstrous and largely untapped drug market right now.
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