That Alzheimer's drug that flunked a PhII? On second look, Biogen/Eisai say it's a winner
Seven months ago, Biogen and Eisai were forced to abandon their plans for a quick pivot into Phase III as their Alzheimer’s drug BAN2401 failed a decisive Phase II. Now, with the full 18-month analysis in hand, the partners are saying they were right to persist.
Biogen’s stock $BIIB surged 17.48% in pre-market trading on an updated snapshot, a considerable boost given the size of the company. So far, the company has added roughly $10 billion to its market cap since yesterday. Meanwhile BioArctic, the small Swedish biotech whose research alliance with Eisai first gave birth to the product, saw their shares (CPH: $BIOA-B) skyrocket 209% as of press time.
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