By Colin Kellaher

Shares of AC Immune rose nearly 60% Tuesday after the biopharmaceutical company said semorinemab is the first monoclonal antibody to show a therapeutic impact on cognition in patients with mild-to-moderate Alzheimer's disease.

AC Immune, which is developing semorinemab with Roche Holding AG's Genentech unit, said semorinemab showed a statistically significant reduction in cognitive decline from baseline by 43.6% compared with a placebo, meeting one of the study's primary endpoints.

However, the drug missed the study's other co-primary endpoint of a reduction in the rate of functional decline from baseline in people with the neurodegenerative condition.

AC Immune said it is excited by the therapeutic impact on cognition observed in the study, but the company said it is "still cautious about what this may mean for patients," given the lack of an impact on the rate of functional decline or other efficacy endpoints.

AC Immune said Genentech plans to continue the open-label portion of the study, which the company said may be "important in elucidating the potential of semorinemab in this patient population."

Semorinemab is one of a new class of Alzheimer's drugs that target the so-called tau protein, which forms clumps in the brains of Alzheimer's patients.

AC Immune and Genentech last year said semorinemab had missed the key endpoints in a Phase 2 study in people with early Alzheimer's disease.

AC Immune shares were recently up 59% to $11.12.

-Denise Roland contributed to this report

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

August 31, 2021 10:40 ET (14:40 GMT)

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