NEW YORK (TheStreet) -- Shares of Biogen (BIIB - Get Report) were advancing in early morning trade on Wednesday after the company reported that Tecfidera, its multiple sclerosis treatment, had positive results in both clinical and real world settings.
In studies, patients administered tecfidera had reduced time to first relapse vs. traditional treatments, according to a company statement.
Ralph Kern, senior VP of worldwide medical at the Cambridge, MA-based company, said the drug "demonstrates strong efficacy" in reducing disease activity over time.
Additionally, tecfidera's risk profile was assessed on nine years of treatment data and revealed that its benefits outweigh risks.
Biogen is planning to present data from the tecfidera study at the Congress of the European Committee for Treatment and Research in Multiple Sclerosis later this month.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: BIIB