Shares of Biogen (BBIB) are up more than $93 in pre-market.
All after a substantial announcement on its Alzheimer’s drug study, in partnership with Eisai.
In fact, “The two pharma companies said their drug lecanemab reduced cognitive and functional decline by 27% relative to a placebo. The findings come over an 18 month stretch in a Phase 3 study of 1,800 patients with early-stage Alzheimer’s,” reported Yahoo Finance.
Better, analysts at Guggeneheim say the treatment could hold $6 billion to $8 billion potential. And, the US FDA is also reviewing whether it should gran conditional early approval, too.
Even better, according to a Biogen press release, the two companies “announced positive topline results from Eisai’s large global Phase 3 confirmatory Clarity AD clinical trial of lecanemab (development code: BAN2401), an investigational anti-amyloid beta (Aβ) protofibril antibody for the treatment of mild cognitive impairment (MCI) due to Alzheimer’s disease (AD) and mild AD (collectively known as early AD) with confirmed presence of amyloid pathology in the brain. Lecanemab met the primary endpoint (CDR-SB: Clinical Dementia Rating-Sum of Boxes*) and all key secondary endpoints with highly statistically significant results.”
This could be substantial news for the 6.5 million Americans, and for an estimated 24 million people around the world dealing with Alzheimer’s disease.