(CercleFinance.com) – The Biogen share soared by more than 35% on the Nasdaq on Wednesday after the announcement by the American biotechnology company of positive results in the context of a clinical study conducted in Alzheimer’s disease.
Biogen and its Japanese partner Eisai unveiled yesterday evening the conclusions of a trial devoted to lecanemab (BAN2401), an experimental antibody that they intend to treat mild cognitive disorders linked to this neurodegenerative disease.
The two laboratories point out that lecanemab met its primary endpoint, which consisted of a measure of dementia symptoms, as well as all of its secondary objectives, with “highly significant” results according to them.
According to analysts at Wells Fargo, these data are ‘much clearer than what one might expect’.
‘This leaves little doubt as to the effectiveness of lecanemab and issues related to the reimbursement of the product should not be a problem’, predicts the Californian bank.
All analysts now seem to agree on the chances of success of the drug, which leads them to revise upwards their price targets on the title.
‘We believe that these results should lead to a unanimous authorization from the FDA’, underline the teams of Jefferies
At 10:15 a.m. (New York time), Biogen shares jumped more than 35%, signing by far the strongest progression of the Nasdaq 100 index, after having jumped more than 43% at the very start of the day.
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