Twitter, Ionis, Biogen, and More: Here’s Why These Five Stocks Are Making Headlines

Ionis Pharmaceuticals Inc (NASDAQ:IONS) and Biogen Inc (NASDAQ:BIIB) shares have skyrocketed by 17% and 6.6% respectively after CHERISH, a phase 3 clinical trial assessing nusinersen (Trade Name: SPINRAZA) for the potential treatment of spinal muscular atrophy, met its primary endpoint. Specifically, analysis of the data from the study found that children receiving nusinersen experienced a highly statistically significant improvement in motor function compared to those who did not receive treatment. Nusinersen also demonstrated a favorable safety profile in the study.

Biogen, the global licensee of the drug, plans to prepare for a potential launch of the drug in the United States as early as the end of 2016 or the first quarter of 2017. Traders are excited about the news because there is currently no approved treatment for spinal muscular atrophy, which is characterized by loss of motor neurons in the spinal cord and lower brain stem, resulting in severe and progressive muscular atrophy and weakness. Patients with the most severe type of spinal muscular atrophy could be paralyzed and have difficulty breathing and swallowing. Ionis shares are up because the company could potentially earn up to $225 million in milestone payments and royalties in the mid-teens, percentage-wise, if the drug is ultimately approved. 73 funds tracked by Insider Monkey had long positions in Biogen Inc (NASDAQ:BIIB) at the end of June, while 16 were long Ionis Pharmaceuticals Inc (NASDAQ:IONS).

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