In Reversal, Cambridge's Biogen to File for FDA Approval of Alzheimer's Drug

Shares of the company's stock were up more than 40% Tuesday morning after the announcement

Shares of Biogen Inc. were up more than 40% Tuesday morning after the Cambridge drugmaker said it will file for approval of an Alzheimer's drug seven months after discontinuing development of that same drug.

Biogen announced Tuesday morning, shortly before its third-quarter earnings report, that "based on discussions with the FDA," the company will submit an application for approval of aducanumab to the Food and Drug Administration "in early 2020."

Biogen said that the application relies on a "newanalysis of larger dataset" showing the biologic drug slowed clinical decline in patients, but is not based on new data.

Read more on the Boston Business Journal.

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