Some new data is helping two small biotech stocks today at the Alzheimer’s Association International Conference on Prevention of Dementia in Washington, DC. The latest figure showed 26.6 million people worldwide are living with Alzheimer’s and that figure is expected to quadruple by the year 2050. In March, the Alzheimer’s Association reported that there are now more than 5 million people in the United States living with Alzheimer’s.
Medivation (MDVN) shares are trading up 30% at what will be a 52-week high after it its Alzheimer’s treatment Dimebon significantly improved symptoms of the disease over one year. After a one-year mark, patients with mild to moderate Alzheimer’s taking its Dimebon showed benefits in cognition, overall clinical function, normal daily living activities, and improved behavioral problems compared with those patients receiving the placebo.
Neurochem (NRMX) is up over 4% pre-market after release of data on its Alzhemed, although the company readily admits that there is a long ways to go and that the data analysis will still be months away.
In the past we covered some of the Alzheimer’s stocks after a Barron’s piece on the subject, although some of the data from the companies with ‘promising treatments’ has changed.
Here is a full list of the news releases from the conference.
Jon C. Ogg
June 11, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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