Alzheimer’s Disease Treatment Stocks: 3 Biggest NASDAQ Companies in 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.