Biogen Rallies On Positive Alzheimer's Drug Trial

Shares of Biogen Inc BIIB soared higher by more than 13 percent early Friday morning in reaction to the results of an Alzheimer's disease study. 

What Happened

Biogen and its Japanese partner Eisai Co released a final analysis of 856 patients in a Phase 2 clinical study in early Alzheimer's disease on Thursday afternoon. The BAN2401 therapy demonstrated a statistically significant slowing in clinical decline and reduction of amyloid beta accumulated in the brain.

The therapy failed to meet its primary goal of demonstrating superior results over a placebo over a 12-month period. Yet the trial did show a significant slowing of disease progression on key clinical endpoints after 18 months of treatment in patients who received the highest treatment dose of 10 mg/kg biweekly versus a placebo.

Why It's Important

Dr. Lynn Kramer, Eisai's chief medical officer, said in the press release the study proved a "very important correlation" in that it showed slowing progression of the disease after 18 months as well as a reduction of amyloid accumulation. 

What's Next

Biogen and Eisai only discussed top-line results from the study, according to the website Stat. The companies will present additional data from the clinical trial at a future medical meeting.

The two companies also said they plan to disuss a large-scale study with American and European regulators with the ultimate outcome of securing approval of BAN2401, according to Stat. 

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