Many Alzheimer's drug developers close significantly higher thanks to Biogen, Eisai data

Sep. 28, 2022 6:01 PM ETEisai Co., Ltd. (ESALY), BIIBJNJ, RHHBY, LLY, SAVA, AVXL, RHHBF, ANVS, PRTA, ACIU, ABOS, CGTXBy: Jonathan Block, SA News Editor30 Comments

Neuron system disease


Biogen (NASDAQ:BIIB) and Eisai (OTCPK:ESALY) weren't the only drug companies developing Alzheimer's treatments that finished Wednesday significantly higher.

The duo closed up, respectively, 40% and ~58% higher following Tuesday's after the market close release of phase 3 data for Alzheimer's candidate lecanemab.

That helped boost the fortune of other Alzheimer's therapy developers. The best performer of the day was Acumen Pharmaceuticals (ABOS), which ended the day up ~104%. The company has the anti-amyloid-beta oligomer monoclonal antibody ACU193, currently in phase 1.

The second best Alzheimer's-related developer of the day was Prothena Corp. (PRTA), closing up nearly 88%. It has two clinical Alzheimer's candidates, PRX005 and PRX012, both in phase 1. They are antibodies. PRX005 targets tau protein while PRX012 targets amyloid protein.

AC Immune (ACIU) added ~24%. In phase 2, in collaboration with Roche's (OTCQX:RHHBY) Genentech unit, it is developing the anti-tau antibody semorinemab. And in phase 1, in collaboration with Johnson & Johnson's (JNJ) Janssen unit, it has the anti-tau vaccine ACI-35.030.

Other Alzheimer's-related stocks that closed higher today include Annovis Bio (ANVS), Anavex Life Sciences (AVXL), and Cognition Therapeutics (CGTX).

Roche (OTCQX:RHHBF), which is developing gantenerumab, and Eli Lilly (LLY), which is developing donanemab, also closed higher.

The one Alzheimer's stock that finished down was Cassava Sciences (SAVA), which has the oral medication simufilam in its pipeline. It closed off 5%.

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