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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