Shares of AbbVie Inc (NYSE:ABBV) ended Monday session in green amid volatile trading. The shares closed up +0.82 points or 1.30% at $64.10 with 7.59 million shares getting traded. Post opening the session at $63.49, the shares hit an intraday low of $63.19 and an intraday high of $64.25 and the price vacillated in this range throughout the day. The company has a market cap of $105.00billion and the numbers of outstanding shares have been calculated to be 1.63 billion shares.
On Sept. 20, 2016 Karolinska Development AB (Nasdaq Stockholm: KDEV) announced that its portfolio company BioArctic AB has entered into a strategically important collaboration with AbbVie (ABBV), a global biopharmaceutical company, to develop and commercialize BioArctic’s portfolio of antibodies directed against alpha-synuclein for the treatment of Parkinson’s disease and other potential indications.
Parkinson’s disease is the second most-common neurological disease, affecting more than 10 million people worldwide. Mutations in alpha-synuclein are strongly linked to development of Parkinson’s disease. Soluble aggregates of the alpha-synuclein protein are toxic to neurons and lead to the deposits that are a hallmark of the disease.
“AbbVie has shown a strong commitment to Parkinson’s disease and I am proud that they have chosen to collaborate with BioArctic. I am looking forward to a successful partnership that hopefully will result in a new innovative disease modifying treatment becoming available to the large number of patients suffering from Parkinson’s disease,” said Gunilla Osswald, CEO at BioArctic.
Shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) ended Monday session in green amid volatile trading. The shares closed up +0.11 points or 0.22% at $50.48 with 3.35 million shares getting traded. Post opening the session at $50.33, the shares hit an intraday low of $50.04 and an intraday high of $50.71 and the price vacillated in this range throughout the day. The company has a market cap of $51.08 billion and the numbers of outstanding shares have been calculated to be 1.01 billion shares.
Teva Pharmaceutical Industries Ltd (ADR) (TEVA) on September 19, 2016 announced top-line results from the exploratory Phase 2 PRIDE-HD study. This was a 52-week, dose-ranging trial of pridopidine twice daily versus placebo, in the treatment of Huntington disease (HD). The study was directed at measuring improvement in motor function and the effect on HD progression.
An unusually high placebo effect, extending beyond that expected from previous studies, limited the ability to determine treatment effects on assessments of HD motor scores. Evidence of symptomatic impact, however, was seen in the early stage HD patient sub-population, with improvement in Total Motor Score (TMS) and dystonia observed at 26 and 52 weeks in this patient sub-set (stage 1 HD) at specific doses.
The discovery of pridopidine’s previously unknown mode of action as a potent agonist of the Sigma 1 Receptor (S1R) resulted in a change in PRIDE-HD study design, from a 26-week study focused on symptoms, to a 52-week study focused on exploring pridopidine’s potential impact on disease progression, as measured by Total Functional Capacity (TFC). TFC is the most widely accepted and validated tool for assessing disease stage in HD. It has been used as the endpoint in more than 10 previous clinical trials of drugs seeking to demonstrate an impact on HD progression, none of which were successful.
This study showed a statistically significant impact on the endpoint of disease progression at 52 weeks following treatment with pridopidine at certain doses versus placebo, as measured by TFC. The effect of pridopidine was further evident in a sub-population of patients with early stage HD, an effect first observed at 26 weeks.