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Fly News Breaks for February 28, 2020
BIIB, SGMO
Feb 28, 2020 | 15:42 EDT
William Blair analyst Matt Phipps maintained a Market Perform rating on Biogen (BIIB) following the company's strategic collaboration with Sangamo (SGMO) to "develop a broad range of Sangamo's gene regulation therapies in neuromuscular and neurological diseases." The analyst said that "while the deal likely makes sense given Biogen's portfolio and comes with relatively favorable terms, it is unlikely to impact the company in the near term, given the preclinical nature of the program." Phipps believes the company needs "near-term growth drivers outside of the uncertainty of aducanumab."