Biogen Idec Inc (NASDAQ:BIIB) might be a step closer in finding a cure for Alzheimer’s, as the company revealed some promising progress on that front today, which also saw the stock rise sharply. On CNBC Meg Tirrell reported on the latest development from the global biotechnology company.
“[…] What they [Biogen Idec Inc (NASDAQ:BIIB)] were looking for really is the safety of the drug. It is called BIB 37, so I think it surprised a lot of people this morning when they actually showed some potential efficacy here after 54 weeks, so it is just an interim look a pre specified analysis, they stopped, they looked at the data, they have been planning to do this. What they saw was a reduction in that amyloid plaques in the brain which is associated with Alzheimers […],” informed Tirrell.
It is still unclear whether these amyloid plaques cause Alzheimer’s or are produced as a result of the disease, but they do cause the symptoms associated with Alzheimer’s.
Biogen Idec Inc (NASDAQ:BIIB) hasn’t released a lot of details about the study and the new drug, but they did point out that the drug also quite possibly enhances the functions of the brain. That could mean that it helps with memory, coordination and other functions that we take for granted in our everyday lives, but they leave the side of old aged Alzheimer’s patients.
“[…] They also showed surprisingly an effect on cognition after 54 weeks in this study. Now they are also of course looking at safety and they did see some signals, but they say they think they have a window that they can take it forward, now they are saying aggressively that they are going to take it into the later stages of trial […],” said Tirrell.
Biogen Idec Inc (NASDAQ:BIIB) is currently up about 5.89% and trading at $326.17.
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