Biogen Rallies On Positive Alzheimer's Drug Trial

Shares of Biogen Inc (NASDAQ: 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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