RBC Capital had a chance to catch up with Biogen and notes that the company pointed out that the CHMP oral explanation on Leqembi took place yesterday. The firm, which points out that the scientific advisory group meeting typically occurs before the OE, believes this suggests that as of today, both the SAG and OE for Leqembi’s review in Europe have now taken place. While the company did not comment whether the outcome of either meeting was positive, the firm notes that historically drugmakers are typically made aware of the outcome of an oral explanation and trend vote shortly after the meeting and usually disclose if they receive negative trend votes. The firm, which believes Leqembi is on track for an EU approval, has an Outperform rating and $317 price target on Biogen shares.
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