(Bloomberg) — Investors are getting emboldened with Biogen Inc. shares climbing more than 9% over the last four sessions ahead of a regulatory decision on the biotech company’s Alzheimer’s disease medicine. The stock gained almost 1% Monday at 10:15 a.m. in New York.

The Food and Drug Administration is expected to render its verdict on aducanumab sometime on Monday, though Wall Street is trying to prepare for a variety of scenarios, including the potential for another delay.

Investors meanwhile have been doing some last-minute positioning, according to Goldman Sachs strategist Asad Haider. Analysis of June 11 options imply a 25% move in either direction for Biogen’s stock, he wrote in a research note late Friday.

“If approved, we expect focus will be on label, price, any post-marketing commitments and related ‘launch-trade-or-fade’ dynamics,” he said. Biotech stocks oftentimes rally ahead of critical regulatory decisions and then back down, even with a seemingly positive decision about approval.

The biotech sector inched higher on Monday with the Nasdaq Biotech Index rising as much as 0.9%, on track for its highest close in a month. Wall Street increasingly views the FDA’s decision on aducanumab as a precedent-setting stance on new medicines going forward.

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