Lawsuit filed for Investors in shares of Biogen Inc. (NASDAQ: BIIB)

An investor, who purchased shares of Biogen Inc. (NASDAQ: BIIB), filed a lawsuit over alleged violations of Federal Securities Laws by Biogen Inc..

Investors who purchased shares of Biogen Inc. (NASDAQ: BIIB) have certain options and for certain investors are short and strict deadlines running. Deadline: January 12, 2021. NASDAQ: BIIB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 6, 2020, Biogen Inc announced that the Company's proposed Alzheimer's therapy had failed to win support from the U.S. Food and Drug Administration's Peripheral and Central Nervous System Drugs Advisory Committee. Specifically, Biogen Inc disclosed that the Advisory Committee "voted 1 yes, 8 no and 2 uncertain on the question, 'Does Study 302 (EMERGE), viewed independently and without regard for Study 301 (ENGAGE), provide strong evidence that supports the effectiveness of aducanumab for the treatment of Alzheimer's disease?'. The Advisory Committee also voted 0 yes, 7 no and 4 uncertain on the question, 'Does Study 103 (PRIME) provide supportive evidence of the effectiveness of aducanumab for the treatment of Alzheimer's disease?', and 5 yes, 0 no and 6 uncertain on the question, 'Has the Applicant presented strong evidence of a pharmacodynamic effect of aducanumab on Alzheimer's disease pathophysiology?'. Finally, the Advisory Committee voted 0 yes, 10 no and 1 uncertain on the question, 'In light of the understanding provided by the exploratory analyses of Study 301 and Study 302, along with the results of Study 103 and evidence of a pharmacodynamic effect on Alzheimer's disease pathophysiology, it is reasonable to consider Study 302 as primary evidence of the effectiveness of aducanumab for the treatment of Alzheimer's disease?'"

The plaintiff claims that between October 22, 2019 and November 6, 2020, the defendants made false and/or misleading statements and/or failed to disclose that the larger dataset did not provide necessary data regarding aducanumab’s effectiveness, that the EMERGE study did not and would not provide necessary data regarding aducanumab’s effectiveness, that the PRIME study did not and would not provide necessary data regarding aducanumab’s effectiveness, that the data provided by the Company to the FDA’s Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Biogen Inc. (NASDAQ: BIIB) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.