Why BioVie's Shares Tumbled Tuesday
The company focuses on therapies to treat chronic debilitating conditions and after the market closed on Monday, it released phase 2 trial results for its lead therapy, NE3107, to treat Alzheimer's disease and Parkinson's disease. The therapy was more effective (6 points) higher when used on Parkinson's patients who were under 70. BioVie also tested NE3107 as a monotherapy in mild Alzheimer's patients and said patients showed 2.1 points of improvement in enhanced cognition on the modified Alzheimer's Disease Assessment Scale (ADAS).
