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Tuesday, May 17, 2022

Why Biogen Inc [NASDAQ: BIIB] Stock Is Jumping?

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Shares of Biogen Inc. [NASDAQ: BIIB] rocketed 43.97% as the company gained 43.97% on the trading session of Wednesday. It was reported that the Alzheimer drug of the company will soon receive the approval of the US Food and Drug Administration (FDA).

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FDA Panel has found enough evidence to support the Alzheimer’s drug of the company. The independent committee of the FDA’s expert will assess the efficacy of a drug on Friday. Committee will give suggestions to the agency about the approval of the drug.

Shares of Biogen Inc. [NASDAQ: BIIB] jumped 43.97% as the company gained 108.62% during the trading session of Wednesday. It had a trading volume of 14.59 million as compared to the average volume of 1.40 million.

In the past 52-weeks of trading, this company’s stock has fluctuated between the 52-weeks low range of $243.25 and a high range of 374.99.

Turning our focus on its liquidity, it has a current ratio of 2.10 and a quick ratio of 1.80. Furthermore, this company has a total market capitalization of 53.29 billion at the time of writing.

Aducanumab is an antibody that is developed to remove amyloid plaques from the brain. The drug analyzer of the FDA commented that the one trial of Aducanumab showed promising results.

Nearly 6 million and millions of people around the globe are experiencing this disease. Biogen Inc. revealed that it has projected that 1.5 million people are the candidates for this drug.

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