Promising Alzheimer’s study data sends Bioarctic stock soaring

The drug candidate lecanemab from Swedish company Bioarctic significantly slowed down the deterioration in patients with early on-set Alzheimer’s, according to preliminary results from a phase III study.

“The results fully meet our expectations, both in terms of the high degree of statistical significance and the agreement between the results for the primary endpoint and all secondary endpoints,” says the company’s CEO, Gunilla Osswald, in a press release.

Lecanemab is an antibody developed to reduce the amount of harmful amyloid beta in the brain. Unlike previous therapies, it targets the disease itself instead of the symptoms.

The positive results from the phase III study were presented last week in a press release from Bioarctic’s partner Eisai, a Japanese pharmaceutical company.

The study included 1,795 patients with early on-set Alzheimer’s who received either lecanemab or a placebo. In the lecanemab group, clinical deterioration on the global cognitive and functional scale CDR-SB decreased by 27% after 18 months of treatment.

According to the company, all secondary endpoints were also achieved with high statistical significance.

“We are delighted with the fantastic phase III results for lecanemab in early on-set Alzheimer’s, as announced by our partner Eisai, which gives hope to millions of people worldwide who struggle with Alzheimer’s,” says Gunilla Osswald.

A more detailed presentation of the results from the phase III study will be presented at an Alzheimer’s Congress on 29 November, followed by publication in a scientific journal.

The aim is to apply for market approval in the US, Japan and Europe no later than Q1 2023. The US FDA has previously granted Lecanemab breakthrough status.

The news caused a rise in Bioarctic’s stock by more than 100% when the stock market opened last Wednesday.

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