Expand chart
Data: Money.net; Chart: Axios Visuals

Biogen was a shattered biotech company in March after it pulled the plug on its new Alzheimer's drug, but it recaptured Wall Street's good graces by looking at its data again and deciding to shoot for FDA approval after all.

Reality check: Alzheimer's affects almost 6 million Americans, and those patients and their families have desperately sought an effective treatment. But independent experts have not reviewed Biogen's data, and the industry isn't exactly on good footing right now when it comes to being forthright about its data.

What they're saying: Many stock traders are skeptical of Biogen's new Alzheimer's claims, Stat reported.

  • One of the two large clinical trials still failed.
  • Everything depends on whether patients actually improved their cognitive functions on higher doses of the drug, called aducanumab.

Yes, but: That skepticism doesn't mean the drug won't get FDA approval.

  • The FDA has shown a willingness recently to approve drugs, sometimes controversially, if they treat conditions with a dearth of options and if companies agree to conduct post hoc studies.

The big picture: The public should always be skeptical of drug company data and claims — especially with this drug, and in the industry's current state.

  • Any drug treating Alzheimer's would greatly alter society, both clinically and financially, so there's a lot of pressure to get something like this right.
  • There's also a lot of pressure to make sure drug companies aren't manipulating the results. Novartis recently got approval for Zolgensma, the world's most expensive drug, but the FDA later found out the company's data was faulty — and Novartis knew about it.

Go deeper: The outlook for Alzheimer's research keeps getting bleaker

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 12,220,166 — Total deaths: 553,438 — Total recoveries — 6,696,632Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 3,111,902 — Total deaths: 133,195 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: More young people are spreading the virus Cases rise in 33 statesFlorida reports highest single-day death toll since pandemic began.
  4. Science: World Health Organization acknowledges airborne transmission of coronavirus.
  5. 1 🐂 thing: How the world could monitor for potential pandemic animal viruses.
4 hours ago - Podcasts

Inside Joe Biden's economic plan

Joe Biden on Thursday returned to his hometown of Scranton, Pennsylvania, to give his first major speech on economic policy since becoming the Democratic Party’s presumptive presidential nominee.

Axios Re:Cap digs into Biden's plans, how they developed and how they may change, with former U.S. Commerce secretary and campaign surrogate Penny Pritzker.

4 hours ago - World

Countries grapple with whether to lock back down as hotspots emerge

Tokyo in the time of coronavirus. Photo: Charly Triballeau/AFP via Getty

Many politicians and public health officials sounded a similar lockdown refrain in the spring: let’s do this right so we only have to do it once.

Reality check: While some countries have thus far managed to keep cases under control after opening up, dozens of countries that had initially turned a corner are now seeing a worrying rebound. They have to decide if and how to return to lockdown — and whether their populations will stand for it.