Biogen's Stock Surges On Upbeat Outlook For Alzheimer's Treatment
Biogen Idec's stock jumped 10% in premarket trade Tuesday, after the biotechnology company said it was planning "very aggressively" to start a Phase 3 study program for its Alzheimer's treatment. The company said at the Deutsche Bank BioFEST conference that it's decision followed encouraging results of a Phase 1b study, which showed acceptable levels of safety, dose response and consistency across endpoints. The stock has gained 10% year to date through Monday, compared with an 11% rise in the S&P 500.
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