Biogen Inc BIIB shares are trading higher by 42.62% to $282.08 during Wednesday's pre-market session after the company and Eisai Co. Ltd. ESALY announced late Tuesday positive results from a late-stage study of their Alzheimer’s treatment candidate.
Biogen and Eisai announced Lecanemab treatment met the primary endpoint and reduced clinical decline on the global cognitive and functional scale, CDR-SB, compared with placebo at 18 months by 27%, which represents a treatment difference in the score change of -0.45 (p=0.00005) in the analysis of Intent-to-treat (ITT) population.
The companies said starting as early as six months, across all time points, the treatment showed highly statistically significant changes in CDR-SB from baseline compared to placebo (all p-values are less than 0.01).
In addition, all key secondary endpoints were also met with highly statistically significant results compared with placebo (p<0.01).
"Today's announcement gives patients and their families hope that lecanemab, if approved, can potentially slow the progression of Alzheimer's disease, and provide a clinically meaningful impact on cognition and function," said Michel Vounatsos, Chief Executive Officer at Biogen.
According to data from Benzinga Pro, Biogen has a 52-week high of $291.54 and a 52-week low of $187.16.
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