Policy & Regulation
BioArctic comments on trading halt of its shares by Nasdaq Stockholm on 21 March 2019
22 March 2019 -

BioArctic AB (STO:BIOA), a Swedish research-based biopharmaceutical company, on Thursday commented on the decision of 21 May 2019, by Nasdaq Stockholm, to halt trading in BioArctic due to large movements in the share price.

According to the company, this reaction followed Biogen's and Eisai's decision to discontinue the phase 3 trials of their drug candidate aducanumab in Alzheimer's disease, which is not the same as BioArctic's drug candidate BAN2401.

These two projects, aducanumab and BAN2401, are based on different antibodies. The company added that Eisai and BioArctic remain dedicated to the Alzheimer's community and continue preparations for the confirmatory phase 3 study of BAN2401 in early Alzheimer's disease.

Reportedly, BioArctic has a strategic research collaboration with Eisai regarding BAN2401 in Alzheimer's disease, a separate drug candidate with positive results in a phase 2b study. This study included 856 patients with early Alzheimer's disease and showed robust and clinically meaningful effects on cognition and function across all three scales. Strong biomarker effects were also demonstrated with amyloid PET and CSF biomarkers of neurodegeneration.

Eisai and BioArctic remain dedicated and will continue the development of BAN2401 in early Alzheimer's disease. A confirmatory phase 3 study of BAN2401 is planned to be initiated in March 2019, as earlier communicated.

Since 2005, BioArctic has long-term collaboration with Eisai regarding the development and commercialisation of drugs for the treatment of Alzheimer's disease. The most important agreements are the development and commercialisation agreement on the BAN2401 antibody, which was signed in December 2007, and the development and commercialisation agreement on the antibody BAN2401 back-up for Alzheimer's disease, which was signed in May 2015. Eisai is responsible for the clinical development, application for market approval and commercialisation of the products for Alzheimer's disease.

BioArctic is focusing on disease-modifying treatments and reliable biomarkers and diagnostics for neurodegenerative diseases, such as Alzheimer's disease and Parkinson's disease.