Biogen, Ionis Shares Rally On Positive Trial Of Treatment For Spinal Muscular Atrophy

By Ciara LinnaneMarketsMarketWatch Pulse

Shares of Biogen Inc. and Ionis Pharmaceuticals Inc. rallied premarket after the companies reported positive results from a late-stage trial of an investigational treatment for later-onset spinal muscular atrophy. The companies said the trial met its primary endpoint at the interim analysis of Cherish, a study evaluating Spinraza, or nusinersen. The analysis "found that children receiving Spinraza experienced a highly statistically significant improvement in motor function compared to those who did not receive treatment," the companies said in a statement. Biogen is preparing for the launch of the treatment in the U.S., possibly as early as year-end or the first quarter of 2017. Biogen shares rose 3.5% in premarket trade, while Ionis was up 12.5%. S&P 500 futures were up 1.4%.

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