{"id":387868,"date":"2020-11-24T11:03:29","date_gmt":"2020-11-24T16:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387868"},"modified":"2020-11-24T11:03:29","modified_gmt":"2020-11-24T16:03:29","slug":"investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-biogen-inc-biib-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-biogen-inc-biib-investors\/","title":{"rendered":"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors"},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors<\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Biogen, Inc. (\u201cBiogen\u201d or the \u201cCompany\u201d) (NASDAQ: BIIB<\/a>) securities between October 22, 2019 and November 6, 2020<\/b>, inclusive (the \u201cClass Period\u201d). Biogen investors have until January 12, 2021 <\/b>to file a lead plaintiff motion.\n<\/p>\n

\nInvestors suffering losses on their Biogen investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\n<\/p>\n

\nBiogen develops therapies for treating neurological and neurodegenerative diseases. One of its product candidates is aducanumab (BIIB037), an investigational human monoclonal antibody studied for use as a treatment for early Alzheimer\u2019s disease.\n<\/p>\n

\nOn October 22, 2019, the Company announced that it would seek regulatory approval from the U.S. Food and Drug Administration (\u201cFDA\u201d) for aducanumab \u201cbased on a new analysis, conducted by Biogen in consultation with the FDA, of a larger dataset from the Phase 3 clinical studies that were discontinued in March 2019 following a futility analysis.\u201d According to Biogen, the new analysis \u201cshow[ed] that aducanumab is pharmacologically and clinically active as determined by dose-dependent effects in reducing brain amyloid and in reducing clinical decline as assessed by the pre-specified primary endpoint Clinical Dementia Rating-Sum of Boxes (CDR-SB).\u201d\n<\/p>\n

\nOn November 6, 2020, Reuters<\/i> reported that an FDA panel found it \u201ccannot ignore unsuccessful trial data on Biogen Alzheimer\u2019s drug.\u201d The panel had also \u201cvoted that an earlier-stage study does not offer supportive evidence of Biogen\u2019s application for the drug, aducanumab.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $92.64 per share, or 28%, to close at $236.26 per share on November 9, 2020, thereby injuring investors.\n<\/p>\n

\nThe complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the larger dataset did not provide necessary data regarding aducanumab\u2019s effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding aducanumab\u2019s effectiveness; (3) the PRIME study did not and would not provide necessary data regarding aducanumab\u2019s effectiveness; (4) the data provided by the Company to the FDA\u2019s Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, Defendants\u2019 statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.\n<\/p>\n

\nIf you purchased Biogen securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201124005283\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> Pennsylvania United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Biogen, Inc. (\u201cBiogen\u201d or the \u201cCompany\u201d) (NASDAQ: BIIB) securities between October 22, 2019 and November 6, 2020, inclusive (the \u201cClass Period\u201d). Biogen investors have until January 12, 2021 to file a lead plaintiff motion. Investors suffering losses on their Biogen investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Biogen develops therapies for treating … <\/p>\n

Continue reading “INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387868","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-law-offices-of-howard-g-smith-announces-the-filing-of-a-securities-class-action-on-behalf-of-biogen-inc-biib-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. (BIIB) Investors BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Biogen, Inc. (\u201cBiogen\u201d or the \u201cCompany\u201d) (NASDAQ: BIIB) securities between October 22, 2019 and November 6, 2020, inclusive (the \u201cClass Period\u201d). Biogen investors have until January 12, 2021 to file a lead plaintiff motion. Investors suffering losses on their Biogen investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. Biogen develops therapies for treating … Continue reading "INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Biogen, Inc. 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