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Stock impact report

Biogen Announces 1Q20 Beat, But Aducanumab Update Steals The Show [Yahoo! Finance News]

Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) 
US:NYSE Investor Relations: mizuho-fg.com/investors/index.html
Biogen BIIB“Among the new disclosures are a pre-BLA meeting this summer and additional “formal interactions” with the FDA such as Type C meetings); these were not previously communicated and may raise questions on how receptive FDA is to this BLA” comments JP Morgan analystCory KasimovAs a result shares are currently down 6% in Wednesday’s pre-market trading at $309.Meanwhile, Mizuho Securities analystSalim SyedHe also reiterated his BIIB hold rating with a $316 price target 4% downside potential), adding that aducanumab is very unlikely at this point to get an FDA decision in 2020 with a 3Q20 submission planned.Syed concludes “It’s even unclear at this point if an advisory committee would occur in 2020 … our guess this too is now a 2021 event most likely.”Turning to the numbers, BIIB reported a revenue beat of $120 million due to ex-US Tysabri and ex-US Tecfidera. Meanwhile Q1 Non-GAAP EPS of $9.14 beat the consensus estimate by $1.45; and GAAP EPS of $8.08 beat by $0.50. The press r Show less Read more
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