TechMARK movers: Elan up, SkyePharma lower

LONDON (ShareCast) - Shares in Elan were higher again today after the Irish biotech said Tuesday that preliminary findings from a Phase 2 study of bapineuzumab in patients with mild to moderate Alzheimer's disease justified the decision to move the drug to stage 3 trials. Elan said the study did not attain statistical significance on the primary efficacy endpoints in the overall study population, but post-hoc analyses did show statistically significant and clinically meaningful benefits in important subgroups. "The preliminary analyses of the Phase 2 study are a continued validation of the amyloid approach to Alzheimer's disease and an important milestone in our companies' ongoing commitment to bring new treatment options to patients," chief executive Kelly Martin said at the time. SkyePharma was one of today’s fallers.... [read full story]