Biogen and partner Eisai late Tuesday reported positive results from a late stage, large trial of their experimental Alzheimer's drug.
That was the view of analysts at Mizuho Securities, who late Tuesday lifted shares of Biogen Inc. BIIB to buy from neutral after the pharmaceutical group and its Japanese partner Eisai Co. JP:4523 announced a promising, large study of its experimental Alzheimer’s drug.That was the view of analysts at Mizuho Securities, who late Tuesday lifted shares of Biogen Inc. BIIB to buy from neutral after the pharmaceutical group and its Japanese partner Eisai Co.
“The press release reads rather clean and actually has a fair amount of the relevant detail that investors needed here . Of course, we will get the even more detailed data set at CTAD [ Clinical Trials on Alzheimer’s disease — an annual conference] on Nov.
The study had been highly anticipated following the failed launch of another treatment, Aduhelm, also developed by Eisai and Biogen. There was no trade in shares of Eisai in Tokyo on Wednesday because buy orders overwhelmed sell orders even at the upper-end of the day’s trading range.