Bio­gen push­es back its time­line on the big ad­u­canum­ab FDA fil­ing as Covid-19 slows work — shares wilt

You can scratch off an ear­ly 2020 ad­u­canum­ab fil­ing from your list of Bio­gen cat­a­lysts.

The big biotech $BI­IB re­port­ed Wednes­day morn­ing that it is “mak­ing good progress” to­ward an FDA fil­ing of the Alzheimer’s drug, which is now planned for Q3. And the stock tanked ahead of the bell, drop­ping 10% as an­a­lysts re­peat­ed­ly probed the ad­u­canum­ab de­lay and stud­ied the Q1 num­bers, which in­clud­ed a 9% hike in Spin­raza rev­enue as well as signs of trou­ble for their over­all pipeline sched­ule as the pan­dem­ic mael­strom af­flicts R&D.

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