In a fresh press release from this morning, BioVie (NASDAQ:BIVI) disclosed top-line results from a Phase 2 clinical trial for its Alzheimer’s disease treatment, NE3107. The results were largely positive, and today’s traders are pushing BIVI stock higher as a result.
Nevada-based BioVie focuses on developing treatments for chronic, debilitating conditions. Among those treatments is NE3107, which BioVie is testing in patients with mild to moderate Alzheimer’s disease. The company’s target for completion of its Phase 3 trial is mid-2023.
According to BioVie, an estimated six million Americans suffer from Alzheimer’s disease. Unfortunately, this is a hard-to-treat ailment and frustratingly, the research for Alzheimer’s has been mixed over the decades.
As BioVie explains, NE3107 uses “a two-pronged approach targeting both neuroinflammation and insulin resistance.” Fortunately, the top-line data released today indicates NE3107 is “associated with significant improvements in cognition” for the tested Alzheimer’s disease patients. Plus, no adverse events were reported.
What’s Happening With BIVI Stock?
BIVI jumped 7% out of the gate this morning before pulling back somewhat. As of 11:00 a.m. Eastern, however, the shares were still in the green and above $3.50.
This is undoubtedly a welcome development for BioVie’s investors. Yet, the medical community should also appreciate the positive clinical results for NE3107.
Notably, BioVie reported that, according to the trial’s initial results, the “measurements for most patients improved with NE3107 treatment.” However, mild cognitive impairment/mild Alzheimer’s disease patients “showed greater change.”
It’s important to know, though, these aren’t the final trial results. BioVie plans to present its final data and statistical analyses at a conference in San Francisco, which will be held in late November and early December. Furthermore, the final results may differ from the top-line results released today.
Nonetheless, BioVie’s announcement of positive preliminary trial results should provide a confidence boost to the company’s shareholders. All stakeholders can root for BioVie to continue advancing NE3107 in the quest to discover better Alzheimer’s disease treatments.
On the date of publication, David Moadel 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.