Biogen gains on interim Alzheimer's data

Biogen Idec Inc. (NASDAQ:BIIB) gained $19.83 to $328.27 on Tuesday after its BIIB037 reduced beta amyloid levels and improved cognition versus placebo at 54 weeks in a Phase Ib trial to treat Alzheimer's disease (AD).

Biogen EVP of R&D Douglas Williams said at Deutsche Bank's BioFEST conference on Tuesday that the company is planning to start a Phase III trial of the human anti-beta amyloid mAb. He said an interim analysis showed that the mAb met Biogen's three criteria for moving directly to Phase III from Phase I: a dose-dependent removal of beta amyloid from the brain, an acceptable safety profile, and consistency across endpoints. ...