The success of Biogen (BIIB)-Eisai's AD candidate in a big phase III study makes investors optimistic about the prospects of other AD candidates as well.
Shares of Biogen (NASDAQ: BIIB) were skyrocketing 36% as of 11:10 a.m. ET on Wednesday. The huge gain came after the company and its partner Eisai (OTC: ESALY) announced positive results on Tuesday from their late-stage Clarity AD study evaluating lecanemab in treating Alzheimer's disease. The news also propelled two stocks of other drugmakers developing Alzheimer's disease drugs significantly higher.
Biogen (BIIB) and Eisai's Clarity AD study showed that treatment with lecanemab in the early stages of Alzheimer's disease reduces the rate of clinical decline on the CDR-SB scale by 27% compared to placebo.