Biogen Inc. and Eisai Co. have recently released new data concerning their Alzheimer's treatment, Leqembi, which could potentially improve the adoption of the drug.
According to the companies, weekly treatment with an experimental subcutaneous formulation of Leqembi has shown a 14% greater removal of amyloid plaques after six months compared to the currently approved intravenous version. Amyloid plaques, known as a hallmark of Alzheimer's disease, are protein clumps that can accumulate in the brain and impair neurons.
Investors have been eagerly awaiting data on this experimental version of Leqembi. While the US Food and Drug Administration granted full approval for the intravenous treatment in July, Biogen shares did not experience significant growth. Analysts had predicted a slow rollout, attributing it to the limited capacity of the US health system to administer biweekly infusions. However, the availability of a subcutaneous option could ease any infusion-related bottlenecks and provide greater convenience for patients and caregivers.
Although the uptake of Leqembi has been relatively modest so far, Jefferies analysts believe that its momentum will likely pick up in the second half of next year. They described the current situation as "a little wave right now, but not a swell."
Biogen and Eisai reported that rates of a potentially serious side effect associated with brain swelling were similar for both the subcutaneous and intravenous versions of Leqembi. These findings were presented at the recent Clinical Trials on Alzheimer's Disease conference in Boston.
While Biogen shares experienced a 2.1% decline on Wednesday and are down 10.9% year-to-date, Eisai shares fell by 0.7% on Wednesday and have declined by 16.1% so far this year.
