The group will need longer-term data to justify its huge valuation.
Two huge up-front fees this week, for an anti-Tigit MAb and an antibody-drug conjugate, show that early-stage oncology assets are still hot.
Sage gets a big endorsement for zuranolone, but the markets say it should have waited until it had a stronger negotiating position.
All the attention is on aducanumab, but yesterday’s deal with Denali is a reminder that Biogen has other irons in the fire.
Clinical results this year from companies including Roche, Biogen and Sanofi should show whether new drug classes can arrest the development of Parkinson’s disease.