Why Are Biogen Shares Gaining Today?

Why Are Biogen Shares Gaining Today?
  • ​​​​​​Biogen Inc BIIB and Eisai Co Ltd ESALY have new data released for Aduhelm (aducanumab-avwa) in Alzheimer's disease.
  • Related: Biogen Posts Just $300K Sales From Aduhelm In Q3, Though Earnings Beat Estimates.
  • The analysis comes from approximately 7,000 plasma samples from more than 1,800 patients in Phase 3 trials.
  • According to new data released, Aduhelm lowers levels of a second protein that accumulates in the brains of people with the disease.
  • Biogen said its Phase 3 studies found that Aduhelm significantly lowered blood levels of an abnormal form of the protein tau - another target of experimental Alzheimer's drugs.
  • The Company said that the tau levels were correlated to changes in amyloid plaques and slowed the cognitive and functional decline.
  • In one trial, tau levels in patients with early Alzheimer's given the highest dose of Aduhelm fell 13%, compared with an increase of 8% for placebo patients. 
  • In the second trial, high-dose patients saw tau levels decrease 16%, while levels in the placebo group rose 9%.
  • Related Link: Eisai Posts New Lecanemab Data From Mid-Stage Alzheimer's Trial.
  • Price Action: BIIB shares are up 3.54% at $276 during the premarket session on the last check Friday.

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