Biogen (BIIB) Rallying 20% in Pre-Market as Results from BG-12 MS Pill Trial Very Strong
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Biogen (Nasdaq: BIIB) shares have rallied sharply in pre-market action following some comments on the company's Q1 conference call.
The company announced its BG-12 multiple sclerosis pill returned strong results in a define trial. The pill reduced 2-year relapses by 49 percent and reduced disability progression by 38%.
Biogen shares are up 21 percent to $104.69.
Commenting on the efficacy of the BG-12 pill, a Goldman Sachs analyst called the data "significantly stronger than our expectations." The firm believes the trial results "demonstrates the potential to extend the sustainability of the company's multiple sclerosis franchise."
The company announced its BG-12 multiple sclerosis pill returned strong results in a define trial. The pill reduced 2-year relapses by 49 percent and reduced disability progression by 38%.
Biogen shares are up 21 percent to $104.69.
Commenting on the efficacy of the BG-12 pill, a Goldman Sachs analyst called the data "significantly stronger than our expectations." The firm believes the trial results "demonstrates the potential to extend the sustainability of the company's multiple sclerosis franchise."
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