Biogen Up Sharply on Promising Alzheimer's Results

Shares of Biogen

are moving sharply higher this morning following news of that its' Alzheimer's drug showed promising results and the company said it would proceed with a late-stage trial. The drug, BIIB037, reduces beta amyloid in the brain, a key contributor to plaque is a contributing factor to Alzheimer's disease. The announcement came at the Deutsche Bank BioFEST conference today. Meg Tirrell of CNBC tweeted several highlights:

Shares of BIIB are currently trading up 5.81 percent at 326.85.