Why Acumen Pharmaceuticals Stock Is Soaring Today

Acumen Pharmaceuticals Inc ABOS shares are trading higher Wednesday after Biogen Inc BIIB and Eisai Co ESALY announced that the Phase 3 clarity study of lecanemab met its primary endpoint.

Lecanemab is an investigational anti-amyloid beta protofibril antibody for the treatment of mild cognitive impairment due to Alzheimer's disease. The companies said Lecanemab met the primary endpoint and all key secondary endpoints with highly statistically significant results. 

Find Out More: What In The World Is Going On With Biogen (BIIB) Shares?

Acumen is a clinical-stage biopharmaceutical company developing a novel disease-modifying approach to target what it believes to be a key underlying cause of Alzheimer's disease.

Shares of several companies with Alzheimer's programs are trading higher following the update from Biogen and Eisai.

ABOS Price Action: Acumen is making new 52-week highs on Wednesday.

The stock was up 93.2% at $9.05 at time of publication, according to Benzinga Pro.

Photo: Raman Oza from Pixabay.