Biogen shares jump despite mixed news on rare disease drugs

Biogen shares jumped Tuesday after the company reported strong revenue from its rare disease drug Spinraza, despite announcing a setback with a gene therapy treatment targeting the same disorder. Biogen (Nasdaq: BIIB), which is scheduled to release highly anticipated data from an Alzheimer's drug trial on Wednesday, said that its revenue jumped to $3.4 billion in the second quarter, a 9 percent increase over the same period last year. Sales of Spinraza, a treatment for spinal muscular atro phy, or…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news