Biogen, Ionis declare an early victory for PhIII spinal muscular atrophy study, triggering $75M payout
Two months after a clinical hold on a top Phase III program tripped up Ionis and sent its shares into a tailspin, the antisense RNA specialist has bounced back with a late-stage win for spinal muscular atrophy, setting up a $75 million payout from Biogen, which will now race toward regulatory approvals for their drug.
Battered shares of Ionis–which is now contemplating its first new drug approval–raced up 39% on the news, while Biogen clocked a 4% gain.
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