Biogen is skyrocketing after its Alzheimer's drug delivers positive results

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Biogen is surging Friday morning, up 14.47%, after a final analysis of its Alzheimer’s drug, BAN2401, showed positive results.

A clinical study of 856 early Alzheimer’s patients who were given BAN2401, an anti-amyloid beta protofibril antibody, showed that the patients saw a slowing progression of their disease.

“These BAN2401 18-month data offer important insights in the investigation of potential treatment options for patients with Alzheimer’s disease and underscores that neurodegenerative diseases may not be as intractable as they once seemed,” Alfred Sandrock, Biogen’s chief medical officer, said in the company’s press release.

Friday’s stock pop puts Biogen into the green for the year – its up 2%.

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