On Friday, the U.S. Food and Drug Administration (FDA) approved Johnson & Johnson's (NYSE:JNJ) supplemental New Drug Application (sNDA) for Akeega (niraparib and abiraterone acetate) plus prednisone for BRCA2-mutated metastatic castration-sensitive prostate cancer (mCSPC).
Patients with BRCA mutations often have more aggressive forms of prostate cancer.
The approval is based on results from the AMPLITUDE Phase 3 clinical study.
Data
Treatment with Akeega plus prednisone and androgen deprivation therapy (ADT) significantly reduced the risk of radiographic progression or death by 54% compared to placebo/abiraterone acetate plus prednisone and ADT, which is the current standard of care.
Akeega plus prednisone and ADT also significantly prolonged the time to symptomatic progression by 59%.
The company on Friday said the expanded indication for AKeega plus prednisone marks the first FDA-approved precision medicine combination treatment for patients with BRCA2-mutated mCSPC.
Johnson & Johnson Technical Analysis
Johnson & Johnson (JNJ) is currently showing a strong bullish setup, trading well above its key moving averages. The stock is positioned 3.7% above its 20-day SMA, 8.2% above its 50-day SMA, and 14% above its 100-day SMA, indicating solid upward momentum.
The RSI is currently at 73.55, which places it in overbought territory. This suggests that while the stock has been performing well, it may be due for a pullback or consolidation as traders take profits.
MACD is above its signal line, signaling bullish momentum in the stock. This indicates that the current trend is strong, and traders may want to watch for any signs of a reversal or weakening momentum.
Key support is at $185.00, which traders should keep an eye on; a drop below this level could signal a trend change. Since there's no clear resistance level above the current price, the stock may continue to push higher unless it encounters selling pressure.
The golden cross in July, where the 50-day SMA crossed above the 200-day SMA, has set a positive tone for the stock's longer-term trend. This crossover often indicates a sustained bullish trend, which aligns with the current price action.
Over the past 12 months, JNJ has gained 47.08%, reflecting a strong upward trajectory. This performance highlights the stock's resilience and potential for continued growth in the longer term.
Currently, JNJ is trading near its 52-week high of $212.27, which suggests that it is in a strong position relative to its recent performance. Traders should be cautious as the stock approaches these highs, as it may encounter resistance or profit-taking.
JNJ Price Action: Johnson & Johnson shares were up 0.06% at $211.70 during premarket trading on Friday. The stock is trading near its 52-week high of $212.27, according to Benzinga Pro data.
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