Trading halted in Biogen as FDA approves Alzheimer’s drug
Shares of Biogen have been halted for pending news as the Food and Drug Administration announced the accelerated approval of lecanemab, an Alzheimer’s drug developed by Biogen and Japanese firm Eisai.
Clinical trials of the new drug showed that it slowed cognitive decline in people with mild symptoms from Alzheimer’s disease. Biogen and Esai were also behind another Alzheimer’s treatment called Aduhelm which was controversially approved by the FDA last year.
The stock was up 3.56% on the day when it was halted at 2 p.m. ET.
—Jesse Pound
Bond prices surge, yields fall as economic data signals cooling inflation
Bond prices rallied with stocks, sending yields down, after two key economic reports signaled inflation my be cooling off as the Fed raises interest rates.
The yield on the benchmark 10-year Treasury was down by 16.2 basis points at 3.56%. The 2-year Treasury yield fell…
