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Biogen Stock Jumps On Positive Data From Aduhelm Alzheimer’s Drug Trial

Biogen said new data from trials of its Aduhelm Alzheimer's treatment showed positive results in lowering blood levels of a key protein linked to the degenerative brain disorder.

Biogen Inc  (BIIB) - Get Free Report shares moved higher Friday after the drugmaker released a new batch of positive data linked to its recently-approved Alzheimer’s treatment. 

Biogen, which gained approval from the U.S. Food & Drug Administration in June for its Aduhelm treatment, said the drug "significantly" lowered blood levels in abnormal tau proteins, which are linked to neuronal damage in neurodegeneration, including Alzheimer's disease.

Aduhelm, Biogen noted in earlier studies, has been show to erode amyloid beta, a plaque which builds up around the brain and can lead to neuron damage. 

Alzheimer's disease, a progressive brain disorder, affects more than 50 million people around the world. To date, no drug has been found to address the disease, which can accelerate into dementia and other more serious cognitive conditions.

“We now have robust and concordant data that ADUHELM has effect on two core defining pathologies of Alzheimer’s disease, and substantial evidence of treatment correlation between changes in plasma p-tau181 and the slowing of disease progression,” said Biogen's head of research Alfred Sandrock. “We are committed to continuing to generate data, and we believe these new findings can help inform treatment choice and advance Alzheimer’s research including in diagnosis and disease monitoring.”  

Biogen shares were marked 1.2% higher in early trading Friday to change hands at $269.76 each.

Last month, Biogen posted stronger-than-expected third quarter earnings of $318.1 million, while boosting its full-year profit outlook based on improving demand for its Aduhelm Alzheimer's treatment.

The FDA in June approved Aduhelm for the treatment of Alzheimer’s using its accelerated approval pathway, which can be used for a drug for a serious or life-threatening illness that provides a meaningful therapeutic advantage over existing treatments.