Why I Sold My Biogen Stock

Since getting clearance from the U.S. Food and Drug Administration (FDA) for its Alzheimer's drug, Aduhelm, on June 7, Biogen (NASDAQ: BIIB) has continued to face an ever-intensifying whirlwind of controversy. In my view, the company's future prospects of making winning drugs for intractable neurological illnesses had become tainted to the point where holding it was a liability. Given the exceptional circumstances of Biogen's saga with Aduhelm and its rapidly weakening stock performance, I thought it was time to hit the road.