NEW YORK (MarketWatch) — Biogen Idec shares surged 10% in premarket trade Friday, after the company reported positive data from an early study of an investigational Alzheimer’s disease treatment. The Phase 1b study of the drug called aducanumab showed positive results in patients with mild Alzheimer’s, Biogen said in a statement. The drug reduced amyloid plaque in the brain, which is believed to play a key role in creating the symptoms of the disease. “This is the first time an investigational drug for Alzheimer’s disease has demonstrated a statistically significant reduction on amyloid plaque as well as a statistically significant slowing of clinical impairment in patients with prodromal or mild disease,” Dr Alfred Sandrock, Biogen chief medical officer, said in a statement. Biogen is planning to advance to a Phase 3 trial later this year. Shares have gained 20% in the last three months, while the S&P 500 has gained about 1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.