U.S. Food & Drug Administration (FDA) events crystallize the risk/reward thesis for many biotechnology stocks, and Biogen Inc.'s (NASDAQ: BIIB) latest Alzheimer’s update shows why that trade can turn quickly.
Biogen entered May with momentum after a solid first-quarter earnings report and its planned acquisition of Apellis Pharmaceuticals (NASDAQ: APLS) for $41 per share, which would add two commercialized rare disease and immunology drugs and a nephrology infrastructure to anchor the felzartamab launch.
