Alzheimer’s Disease Treatment Stocks: 3 Biggest NASDAQ Companies in 2023
The Alzheimer’s disease treatment market is projected to reach US$9.64 billion by 2028. Which stocks should be on investors’ radar?
Alzheimer’s disease treatment stocks are focused on Alzheimer’s disease, a degenerative brain disorder that results in declining memory and thinking skills and typically affects people in their mid-60s.
According to the Alzheimer’s Association, neurons in other areas of the brain also begin to deteriorate as Alzheimer’s disease gets worse, resulting in the loss of basic human functions and overall cognitive impairment.
This condition affects more than 6.7 million people in the US alone; it’s also the most common form of dementia and is the sixth leading cause of death in America. Treatments are available to alleviate Alzheimer’s disease symptoms, but because they do not affect the underlying causes of this neurodegenerative disease, they’re only a bandaid solution.
Therapies approved by the US Food and Drug Administration (FDA) include: rivastigmine by Novartis (NYSE:NVS); galantamine, developed by Janssen, a division of Johnson & Johnson (NYSE:JNJ); donepezil by Pfizer (NYSE:PFE); and AbbVie's (NYSE:ABBV) memantine.
Since there is no cure for Alzheimer’s disease, death is often the result for patients as the ailment devastates the brain. And unfortunately, Alzheimer’s disease is rising in prevalence — a report from Research and Markets suggests that the global Alzheimer’s disease treatment market will be worth a significant US$9.64 billion by 2028 as more patients need treatment, and as more investments are made in biomarkers for diagnosis and drug development.
Here the Investing News Network takes a look at a few of the biggest Alzheimer’s disease treatment stocks on the NASDAQ. Companies are listed in order of market cap from largest to smallest, and all data was current as of April 19, 2023.
Market cap: US$42.27 billion; current share price: US$292.80
Massachusetts-based Biogen, a pioneer in the field of neuroscience, is developing, manufacturing and marketing therapies aimed at treating serious neurological, neurodegenerative, autoimmune and rare diseases.
The global biotechnology firm’s research areas include Alzheimer's disease and dementia. However, Biogen’s launch of its FDA-approved Alzheimer’s disease drug Aduhelm faced a lot of pushback in 2022, both from the market and from Congress, over what was viewed as a hasty fast-track approval process and exorbitant costs to patients.
In early 2023, Biogen is looking to give it another go, this time with LEQEMBI (lecanemab-irmb) for the treatment of Alzheimer's disease, which the FDA has approved under its accelerated approval pathway. The drug was jointly developed by Biogen and Tokyo-based pharmaceutical company Eisai (OTC Pink:ESALF,TSE:4523).
Market cap: US$5.96 billion; current share price: US$62.59
As its name suggests, biopharma company Intra-Cellular Therapies is taking an intracellular approach to developing therapies for patients with complex psychiatric and neurologic diseases, including Parkinson’s disease and Alzheimer’s disease.
Intra-Cellular Therapies is currently evaluating ITI-1284-ODT-SL, a deuterated form of lumateperone that comes in an oral disintegrating tablet; ITI-1284-ODT-SL is in Phase 1 studies, including drug-drug interaction studies. The company expects to commence Phase 2 clinical trials in agitation in patients with probable Alzheimer’s disease in 2023.
Market cap: US$3.16 billion; current share price: US$72.64
New York-based Axsome Therapeutics is developing and commercializing a portfolio of novel therapies for disorders of the central nervous system with limited treatment options. Products currently on the market from the biopharmaceutical company include Auvelity, a rapid-acting oral antidepressant for the treatment of major depressive disorder; and Sunosi, a once-daily prescription medicine to treat excessive daytime sleepiness due to obstructive sleep apnea or narcolepsy.
Axsome’s product pipeline includes AXS-05, a NMDA receptor antagonist with multimodal activity. It has breakthrough therapy designation from the FDA and is currently in Phase 3 clinical studies for the treatment of Alzheimer’s disease agitation.
This is an updated version of an article first published by the Investing News Network in 2019.
Don’t forget to follow @INN_LifeScience for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
- Biotech Stocks: 5 Biggest Companies in 2022 ›
- Top 3 Canadian Biotech Stocks of 2022 ›
- 5 Biggest Biotechnology ETFs in 2022 ›
- 5 Small Biotech ETFs | INN ›
- Anti-aging Stocks in the US | INN ›