An unblinded interim efficacy analysis by a DMC recommended a Phase II/III study testing fosgonimeton in Alzheimer's patients should continue.

Eisai and Biogen had double-digit stock price gains based on the positive Phase III readout for lecanemab. The good news also lifted competitors Lilly and Roche as well as earlier-stage Alzheimer’s drug developers.

Athira hoped a small Phase II study would show a benefit on working memory processing speed, but it missed its primary and all secondary endpoints, reducing confidence in the Phase III program.

Biogen/Eisai’s aducanumab, as the first disease-modifying therapy and setting a precedent for accelerated approval, lifted the entire Alzheimer’s field.