BioVie Inc (NASDAQ:BIVI) shares surged 130% in early trade on Friday after the company revealed that its lead asset NE3107 has demonstrated the potential to improve motor and non-motor symptoms in patients with Parkinson’s disease in a mid-stage clinical trial.
The company said data from its Phase 2a trial showed Parkinson’s disease patients treated with NE3107 experienced significant improvements in non-motor symptoms and motor control, while patients in the placebo arm worsened.
It said these findings suggested the potential of NE3107 in enhancing levodopa, a drug currently used to treat Parkinson’s disease.
“These data suggest that NE3107 as adjunct therapy to levodopa may hold promise in ameliorating specific non-motor symptoms of Parkinson’s disease, particularly in sleep/fatigue and restlessness of the legs,” BioVie chief medical officer Joseph Palumbo said in a statement.
“These findings extend previously reported improvement in motor symptoms with NE3107 and demonstrate potential intrinsic and levodopa-enhancing activity of NE3107 that is consistent with data from animal models and support further clinical investigation of NE3107 in late-phase trials.”
Meanwhile, data from the company’s Phase 3 trial of NE3017 in moderate Alzheimer’s disease has suggested the drug may have the potential to realign physiological processes in patients consistent with decreased neurocognitive decline and diseases of aging.
BioVie noted that due to patients being excluded at 15 of the 39 trial sites, the study missed statistical significance but showed “promising directional data on cognitive and functional measures.”
The data from both the Phase 2a and Phase 3 trials will be presented at the International Conference on Alzheimer’s and Parkinson’s diseases 2024 being held from March 5 to 9 in Lisbon, Portugal.
BioVie CEO Cuong Do commented: “The data being presented reinforce our confidence in the potential of NE3107 to have a meaningful impact on core symptoms of both Alzheimer's disease and Parkinson's disease.”
“These findings add to the growing body of evidence supporting our hypothesis that by selectively modulating inflammation and enhancing insulin sensitivity in the brain, NE3107 could offer benefits in slowing disease progression and improving the lives of patients living with these devastating conditions,” he added.
Shares of BioVie added 130% at US$2.85 shortly after Friday’s opening bell.