Biogen (BIIB) Expands Neurology Pipeline With Alcyone Buyout, Stock Seen Undervalued

Biogen Inc. (NASDAQ:BIIB) ranks among the most undervalued NASDAQ stocks to buy now. On September 18, Biogen Inc. (NASDAQ:BIIB) announced that it had finalized a deal to acquire Alcyone Therapeutics for an initial cash payment of $85 million and milestone payments.

The acquisition focuses on the ThecaFlex DRx, an implantable subcutaneous port and catheter device that is being researched for antisense oligonucleotide (ASO) intrathecal delivery. The system is intended to give patients with neurological illnesses a chronic medication delivery option that does not require repeated lumbar punctures.

Following the acquisition, Biogen Inc. (NASDAQ:BIIB) will be in charge of ThecaFlex DRx’s total development, production, and marketing. The PIERRE and PIERRE-PK clinical studies are now being used to assess the system in individuals with spinal muscular atrophy using SPINRAZA (nusinersen).

Biogen Inc. (NASDAQ:BIIB) is a multinational biopharmaceutical company dedicated to discovering, developing, and providing innovative treatments to patients with severe complex illnesses.

While we acknowledge the potential of BIIB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BIIB and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.