Shares of Medivation surged 29% after the San Francisco-based biotech company said its experimental Alzheimer's disease treatment Dimebon prevented mental deterioration in patients for a year.
Results of a Phase II study revealed that the drug satisfied two criteria used by the U.S. Food and Drug Administration to approve all drugs marketed for mild-to-moderate Alzheimer's, Medivation said in a statement.
"Dimebon patients were stabilized over the one-year study period, meaning that their level of function was preserved for a full year" on all five study measures, Medivation said.
The measures involved cognition, overall clinical function, activities of daily living and behavioral problems, Medivation said, noting the drug was well tolerated over the full treatment period. The most frequently reported adverse events among patients receiving the drug were dry mouth and sweating, the company said.