AC Immune stock climbs 7% on FDA fast track status for Alzheimer's drug

IvelinRadkov AC Immune ( NASDAQ: ACIU ) stock rose 7% Wednesday following news that the FDA has granted Fast Track designation to its drug candidate ACI-35.030, also known as JNJ-2056, for the treatment of Alzheimer’s disease. The drug, an immunotherapy that targets a pathological form of the Tau protein, is being developed by partner Johnson & Johnson's ( NYSE: JNJ ) Janssen unit.

Janssen recently initiated a Phase 2b study of the drug for the treatment of Alzheimer’s in patients who haven’t yet shown symptoms. The study is evaluating whether the drug can help prevent or delay symptoms of the disease, such as cognitive impairment, according to a statement. More on AC Immune AC Immune rockets 47% on Alzheimer's therapy deal with Takeda Seeking Alpha’s Quant Rating on AC Immune Historical earnings data for AC Immune Financial information for AC Immune.