Drugmaker Announces , Promising Results of Potential , Alzheimer's Treatment.
On September 28, shares of Biogen and other drugmakers researching Alzheimer's disease skyrocketed after Japan's Eisai Co.
Announced promising late-stage study results.
'Time' reports that the company said its potential treatment appeared to slow the progress of the fatal disease.
On September 27, Eisai announced the results of a global study of nearly 1,800 people with early-stage Alzheimer's.
According to the drugmaker, early results show that the treatment reduced patients' decline by 27% over 18 months.
Eisai Co.
Also announced plans to discuss the trial's full results at a conference in November.
'Time' reports that the company plans to publish the findings in a peer-reviewed medical journal.
Meanwhile, the company has already sought accelerated approval from the U.S. Food and Drug Administration.
'Time' reports that the regulatory agency is expected to make a decision by early 2023.
The Alzheimer's Association released a statement calling the study's findings the most encouraging to date for potential treatments.
Following the announcement, shares of Biogen Inc.
Jumped over 50% in premarket trading to top $300
