AC Immune (NASDAQ:ACIU) stock is rising higher on Tuesday after revealing positive results from an Alzheimer’s disease study.
The study, which is being conducted by AC Immune’s partner Genentech, reported positive cognitive results for anti-tau monoclonal antibody, semorinemab. This was being used to treat patients suffering from mild-to-moderate Alzheimer’s disease.
According to a press release from AC Immune, this is the first time that clinical activity has been recorded from such a treatment. This saw the study meeting one of two of its co-primary endpoints. However, it failed to meet the other one.
Professor Andrea Pfeifer, CEO of AC Immune, said the following about the news sending ACIU stock higher today.
“Scientifically, these data are encouraging for the therapeutic strategies targeting Tau. We look forward to additional data from our other clinical-stage Tau programs: Tau vaccine ACI-35, partnered with Janssen; and the small molecule Morphomer® Tau aggregation inhibitor, partnered with Eli Lilly.”
Genentech notes that it will continue the open label portion of the study following these results. It also plans to submit the current data for presentation at the (Clinical Trials on Alzheimer’s Disease conference. That will take place this November.
ACIU stock is getting extra attention today thanks to the Alzheimer’s study news. As of this writing, more than 87 million shares of the stock have changed hands. That’s a massive surge compared to its daily average trading volume of about 467,000 shares.
ACIU stock was up 29.9% as of Tuesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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