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STAT Plus: Investors are deeply skeptical of Biogen’s Alzheimer’s claims. They still think it could win approval

“This is basically a game of corporate three-card monte.”

Likening Biogen to a sidewalk confidence game is how one particularly cynical portfolio manager of a biotech hedge fund responded when I asked for his take on Tuesday’s shocking biotech news: Biogen’s decision to resurrect its experimental Alzheimer’s drug aducanumab — and pursue regulatory approval — based on a new and more positive analysis from two large clinical trials previously thought to be negative.

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