UPDATE 3-Biogen dives as Spinraza U.S. sales miss estimates [Reuters]
Solidion Technology, Inc. (STI)
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Source: Reuters
Biogen dives as Spinraza U.S. sales miss estimates | Reuters 3 Min Read (Reuters) - Biogen Inc’s ( BIIB.O ) share dived 8 percent on Tuesday after U.S. sales of Spinraza, a potential blockbuster drug it is banking on to offset slowing sales of multiple sclerosis drugs, fell short of Wall Street estimates in the latest quarter. Spinraza, a spinal muscular atrophy (SMA) drug, generated $197.6 million in U.S. sales in the third quarter, lagging analysts’ average estimate of $242 million, according to broker SunTrust Robinson Humphrey. The shortfall was due to the dosing regimen of the drug, which was approved in December, as fewer patients took the more frequent “loading”, or initial, dose, Biogen Chief Executive Michel Vounatsos said on an earnings call. The treatment starts with four loading doses, followed by maintenance doses once every four months. The first three loading doses are taken at 14 day intervals and the last 30 days after the third, meaning all four can be taken in one
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