Biogen Advancing Diranersen Alzheimer's Drug Into Phase 3 Shows Confidence, Morgan Stanley Says

MT Newswires Live
06/18

Biogen's (BIIB) decision to advance Diranersen into a phase 3 trial as a treatment for Alzheimer's disease indicates confidence in the drug, Morgan Stanley analysts said in a Thursday note.

The company is scheduled to present data from the phase 2 Diranersen study at the Alzheimer's Association International Conference July 12-15 .

The Morgan Stanley analysts are modeling a Diranersen launch in 2029 and project worldwide sales for the drug at about $3.7 billion by 2035.

Using a 30% probability of success, Morgan Stanley estimates Diranersen sales at $1.3 billion or roughly 10% of the company's total 2035 revenue.

The analysts said that, accounting for Biogen's acquisition of Apellis, they estimate the company's compound annual growth rate from 2026 to 2030 at 1.4%, compared with a decline of 1.2% previously.

Morgan Stanley retained an equal-weight rating on the stock, but increased its price target to $224 from $206.

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