BioCentury
ARTICLE | Finance

Nov. 9 Quick Takes: Biogen sheds $14B in value; plus Ambrx’s 200M round, Decibel’s series D and more

November 10, 2020 5:08 AM UTC

Biogen tumbles after aducanumab panel
After Friday’s FDA advisory committee meeting for Alzheimer’s therapy Aduhelm aducanumab, shares of Biogen Inc. (NASDAQ:BIIB) sank $92.64 (28%) to $236.26 Monday, obliterating nearly $14.3 billion of the company’s market value. Panelists not only appeared unconvinced that available data support the therapy’s efficacy, but also suggested FDA had presented biased data analyses through collaboration with Biogen.

Ambrx’s $200M crossover round
Ambrx Inc. raised $200 million in an oversubscribed crossover round to advance its clinical and preclinical pipeline of immunotherapies made using synthetic DNA to incorporate non-native amino acids into proteins. New investors included Fidelity Management & Research Co., BlackRock, Cormorant Asset Management, HBM Healthcare Investments, Invus, Adage Capital Partners and Suvretta Capital Management...