Biogen has been an active stock. Photo: John Tlumacki/The Boston Globe via Getty Images

A lot of Biogen's value hinges on whether federal scientists and regulators will approve or reject its drug candidate for Alzheimer's.

Driving the news: The drug, called aducanumab, has attracted people like Warren Buffett to invest in Biogen's stock on the assumption the drug will score approval for a patient population that desperately seeks a treatment. But other wealthy investors, like Ray Dalio, have taken a less sanguine view and dumped Biogen completely.

By the numbers: Warren Buffett's Berkshire Hathaway hadn't owned any shares of Biogen until it bought 648,000 new shares in the last quarter of 2019, according to regulatory documents flagged by Meg Tirrell of CNBC.

Yes, but: Ray Dalio of Bridgewater Associates sold off all of its 237,000 Biogen shares, according to regulatory filings.

  • Parnassus Investments and HealthCor Management likewise divested all of their Biogen stakes, while a handful of others significantly dialed back investments.

The big picture: The FDA is expected to review and rule on Biogen's application at some point this year. The recent stock trading around Biogen gives a glimpse at how much is riding on this drug, and how much uncertainty there is around approval.

Go deeper: Why there's skepticism around Biogen's Alzheimer's drug

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 33,396,784 — Total deaths: 1,002,628 — Total recoveries: 23,182,295Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 7,150,117 — Total deaths: 205,091 — Total recoveries: 2,794,608 — Total tests: 102,342,416Map.
  3. Business: Companies are still holding back earnings guidance.
  4. Health: Trump announces plan to distribute 150 million rapid tests —The childless vaccine.
  5. Media: Fauci: Some of what Fox News reports about COVID-19 is "outlandish"
  6. States: Cuomo extends New York moratorium on evictions until 2021.
  7. World: More than 1 million people have now died from coronavirus — India the second country after U.S. to hit 6 million cases.

Media prepares to fact check debates in real time

Illustration: Annelise Capossela/Axios

From live blogs to video chyrons and tweets, media companies are introducing new ways to fact check the presidential debates in real time this year.

Between the lines: The debates themselves are likely to leave less room for live fact-checking from moderators than a traditional news interview would.

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