Why Biogen Stock Raced Higher In August

Biotech titan Biogen (NASDAQ: BIIB) saw its shares rise by 8.73% last month, according to data from S&P Global Market Intelligence. This healthy march northward was sparked by an encouraging clinical update for the biotech's early-stage Alzheimer's disease drug candidate, aducanumab, toward the end of the month.

Specifically, Biogen reported that the long-term extension data from aducanumab's phase 1b study supported the design of the drug's ongoing phase 3 trials for early-stage Alzheimer's and seemed to back up the so-called "amyloid hypothesis" that posits that a reduction in amyloid plaques within the brain should improve cognitive abilities in patients afflicted with this devastating neurodegenerative disorder.

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Source: Fool.com