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Thursday, January 8, 2015

Biogen experimental drug shows evidence of optic nerve repair, (NASDAQ: BIIB)

An experimental drug from Biogen Idec Inc showed evidence of biological repair of the optic nerve in a mid-stage study in patients with acute optic neuritis, an inflammation of the optic nerve that can lead to vision loss.The drug is also being tested in patients with multiple sclerosis, an inflammatory disease that attacks the protective covers of nerve cells. Current treatments focus on decreasing inflammation rather than regenerating cells. That study's results are due in 2016, the company said.Biogen shares were up 2 percent at $361 in premarket trading, after rising as much as 6 percent."This is the first clinical trial to provide evidence of biological repair in the central nervous system by facilitating remyelination following an acute inflammatory injury," Alfred Sandrock, Biogen chief medical officer said in a statement.

Biogen Idec Inc. (Biogen Idec) is a global biotechnology company. Shares of BIIB traded higher by 5.56% or $18.59/share to $353.24. In the past year, the shares have traded as low as $272.02 and as high as $361.93. On average, 1763160 shares of BIIB exchange hands on a given day and today's volume is recorded at 2658815.