Biogen stocks rise on new Alzheimer drug breakthrough

Thursday, 05. December 2019 19:26

Biotechnology company Biogen Inc’s stocks rose on Thursday, after presenting new research data at the Clinical Trials Alzheimer’s Disease conference in San Diego. The third phase of the trials for the drug aducanumab showed a significant improvement and Biogen will be seeking Food and Drug Administration's (FDA) approval for further testing.

Stephen Salloway, a Brown University professor commented on Biogen's findings: "This could represent the first treatment that targets a core pathology and open an era of precision medicine for Alzheimer's disease."

Biogen's shares jumped over 4% after the data was published and traded at 3.40% at 01:26 pm ET.

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Breaking the News / NL