Epix shares soar on Alzheimer's trial data

Shares of Epix Pharmaceuticals soared 53 percent this morning on the news that its experimental Alzheimer's therapy proved efficacious, safe and well tolerated in a mid-stage trial. There was mixed improvement in patients depending on dosage, but researchers for the company say the results merit a larger mid-stage trial of the drug. Patients taking the 150 mg dose of PRX-03140 demonstrated a significant improvement in memory and cognitive ability, while patients taking a placebo recorded deteriorating results.

"While we recognize that this is a two-week study on a relatively small population of patients, these statistically significant results, as well as the anecdotal reports we have received from study investigators and patients' families since the trial concluded, support our belief that PRX-03140 has the potential to improve memory and cognition," said Epix CEO Dr. Michael G. Kauffman.

- check out the release
- read the AP report on the trial results