Biogen Inc. (NASDAQ:BIIB) shares are trading higher on Friday as the company is continuing its FDA review process for Leqembi Iqlik (once‑weekly lecanemab‑irmb subcutaneous injection) for early Alzheimer’s disease.
• Biogen stock is showing upward movement. What’s driving BIIB shares up?
Biogen Leqembi Iqlik FDA Review Update
The FDA has extended the review period for Biogen’s supplemental Biologics License Application for Leqembi Iqlik by three months, pushing the new action date to Aug. 24, 2026.
The extension allows the agency to fully assess additional information submitted by Biogen and its partner Eisai, who believe the clinical data support the treatment’s potential.
Leqembi is indicated for Alzheimer’s disease (AD). Treatment with Leqembi should be initiated in patients with mild cognitive impairment (MCI) or mild dementia stage of disease, the population in which treatment was initiated in clinical trials.
Biogen Taps Alloy Platform To Push Antisense Drug Pipeline Forward
In March, Biogen agreed to acquire Apellis Pharmaceuticals Inc. (NASDAQ:APLS) for $41 per share in cash or approximately $5.6 billion.
The acquisition is expected to enhance Biogen’s growth portfolio in immunology and rare diseases and add significant value to both companies as they navigate the evolving healthcare landscape.
The deal consideration includes a contingent value right (CVR) for each share, allowing shareholders to receive two payments of $2 per share based on certain sales thresholds for Apellis.
In March, the FDA approved Biogen’s new high-dose regimen for Spinraza (nusinersen), a treatment for spinal muscular atrophy (SMA).
The high-dose regimen of Spinraza, which includes two 50 mg doses given 14 days apart, followed by maintenance doses every four months, is expected to enhance treatment options for patients.
BIIB Technical Outlook: Momentum and Key Levels
Biogen’s stock has shown strong performance over the past year, with a 12-month gain of 63.29%.
Currently, the stock is trading at $191.66, which is 4.9% above its 20-day simple moving average (SMA) of $184.35. The moving average convergence divergence (MACD) indicator is above its signal line, suggesting that downside pressure is easing, which could indicate improving momentum for the stock.
- Key Resistance: $196 — Nearby level where rebounds can stall.
- Key Support: $169 — Nearby level where buyers previously stepped in.
BIIB Stock Price Activity: Biogen shares were up 1.06% at $193.40 at the time of publication on Friday, according to Benzinga Pro data.
Photo by JHVEPhoto via Shutterstock
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