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4 Alzheimer's Drug Stocks to Watch on World Alzheimer's Day
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Key Takeaways
Biogen markets Leqembi and plans phase III development of experimental tau-targeting diranersen.
Alnylam is advancing RNAi therapies targeting APP and tau across its Alzheimer's pipeline.
Acumen's sabirnetug awaits late-2026 phase II results, while Prothena advances tau and amyloid programs.
Alzheimer’s Disease International (“ADI”) observes Sept. 21 as World Alzheimer’s Day, while September is marked as World Alzheimer’s Month to raise awareness about Alzheimer’s disease (AD) and other forms of dementia. The 2026 campaign — The Earlier You Know, The More You Can Do: A Dementia Diagnosis Matters — highlights the importance of early diagnosis and access to appropriate treatment and care.
AD is the most common form of dementia, accounting for an estimated 60-70% of dementia cases, according to the World Health Organization. The disease progressively damages brain cells, leading to declines in memory, thinking and everyday functioning. Although treatment options have improved in recent years, there is still no cure for the disease and disease-modifying therapies remain limited, underscoring the need for newer treatments that can slow progression and improve patient outcomes.
Drug development, therefore, remains an important focus. According to ADI, 158 drugs are currently being evaluated across 192 studies in the dementia pipeline. Clinical research is also receiving added attention this year, given the role such studies play in evaluating emerging therapies and bringing potential treatment advances closer to patients.
In this article, we highlight four biotech stocks — Biogen (BIIB - Free Report) , Alnylam Pharmaceuticals (ALNY - Free Report) , Prothena Corporation (PRTA - Free Report) and Acumen Pharmaceuticals (ABOS - Free Report) — worth keeping an eye on. These companies are either marketing an AD therapy or advancing experimental therapies for the disease. All four companies carry a Zacks Rank #3 (Hold).
Biogen already has an established presence in the AD market through Leqembi (lecanemab), which it commercializes with partner Eisai. The drug is one of two FDA-approved amyloid-beta-directed antibodies for early AD, alongside Eli Lilly’s (LLY - Free Report) Kisunla (donanemab). Leqembi works by reducing amyloid plaques in the brain, an approach intended to slow disease progression and help preserve cognitive and functional abilities for longer.
Under the terms of their collaboration, Eisai records the drug’s product sales, while Biogen recognizes its 50% share of net product revenues and cost of sales, including royalties. Leqembi generated global in-market sales of $184 million in the second quarter of 2026, up 15% year over year. Meanwhile, Biogen recorded $63.7 million in Alzheimer’s collaboration revenues in the second quarter of 2026, up 16% from the year-ago period.
The drug’s commercial prospects received another boost following FDA approval of a subcutaneous version marketed as Leqembi Iqlik, allowing patients with early AD to begin therapy at home rather than through intravenous infusions.
Beyond Leqembi, Biogen is advancing diranersen, an experimental tau-targeting drug that was licensed from Ionis Pharmaceuticals. In the phase II CELIA study, the drug did not meet its primary endpoint of demonstrating a dose-response relationship in clinical decline, as higher doses failed to show progressively greater benefit. However, diranersen produced substantial reductions in tau biomarkers and showed signs of slowing cognitive decline across several clinical measures. Based on the overall biomarker and efficacy findings, Biogen plans to advance the candidate into confirmatory phase III development.
Continued uptake of Leqembi, coupled with the planned advancement of a candidate with a differentiated mechanism, keeps BIIB in focus within the evolving AD treatment landscape.
Alnylam is advancing mivelsiran, an experimental RNAi therapy designed to lower production of amyloid precursor protein (APP), which in turn could reduce the formation of amyloid-beta in the brain. The company recently shared additional phase I data in patients with early-onset AD, which showed that mivelsiran produced encouraging reductions in biomarkers linked to this pathway. Safety data from single and multiple doses also showed no evidence of an increased risk of amyloid-related imaging abnormalities (ARIA), a side effect that usually does not cause any symptoms but can occasionally be serious or fatal.
Alnylam recently advanced mivelsiran into the phase II APPlauDS study in patients with Down syndrome-associated AD. The study is evaluating whether lowering APP can reduce amyloid accumulation and potentially slow disease progression. The company is also developing ALN-5288, an RNAi therapeutic targeting tau, in collaboration with Regeneron Pharmaceuticals. A phase I study on this drug is currently underway in AD patients.
With two RNAi candidates directed at different targets implicated in AD — APP and tau — Alnylam has a differentiated approach to the disease that could broaden its neuroscience pipeline if these programs succeed.
Prothena’s AD pipeline includes moponetug, an experimental antibody targeting a key region within the microtubule-binding region of tau. The candidate was discovered through Prothena’s collaboration with Bristol Myers, which holds worldwide rights and is responsible for its development and potential commercialization. Bristol Myers is evaluating moponetug in the phase II TargetTau-1 study in roughly 310 patients with early AD. The study is fully enrolled, with primary completion expected in the first half of 2027, making the program an important upcoming catalyst for Prothena.
Prothena is also advancing PRX012-TfR, a wholly owned AD program currently in preclinical development. The program combines its once-monthly, subcutaneous anti-amyloid antibody PRX012 with proprietary transferrin receptor technology aimed at improving the drug’s profile. It follows phase I testing of PRX012, which demonstrated amyloid-plaque clearance but was associated with a non-competitive ARIA-E profile (a type of brain swelling or fluid buildup seen on MRI scans).
With partnered tau and wholly owned amyloid programs, Prothena offers exposure to two different approaches to AD drug development.
The company is developing sabirnetug, an experimental antibody designed to selectively target soluble amyloid-beta oligomers, a toxic form of amyloid believed to contribute to the early progression of AD. This differs from currently approved anti-amyloid antibodies, which primarily target other forms of amyloid, including plaques. Sabirnetug is currently being evaluated in the phase II ALTITUDE-AD study, which enrolled 542 patients with early AD. With top-line results from this study expected in late 2026, the readout represents an important upcoming catalyst for Acumen and should provide a clearer indication of whether selectively targeting toxic amyloid-beta oligomers can translate into clinical benefit.
Acumen is also expanding its AD pipeline. In June, the company nominated two candidates for development under its Enhanced Brain Delivery (EBD) program targeting AD. Both candidates have been designed to achieve higher brain penetration, with potential for improved safety compared with the corresponding unmodified antibodies.
With sabirnetug approaching a major phase II readout and additional AD candidates moving through preclinical development, ABOS remains a closely watched clinical-stage biotech in the AD space.
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4 Alzheimer's Drug Stocks to Watch on World Alzheimer's Day
Key Takeaways
Alzheimer’s Disease International (“ADI”) observes Sept. 21 as World Alzheimer’s Day, while September is marked as World Alzheimer’s Month to raise awareness about Alzheimer’s disease (AD) and other forms of dementia. The 2026 campaign — The Earlier You Know, The More You Can Do: A Dementia Diagnosis Matters — highlights the importance of early diagnosis and access to appropriate treatment and care.
AD is the most common form of dementia, accounting for an estimated 60-70% of dementia cases, according to the World Health Organization. The disease progressively damages brain cells, leading to declines in memory, thinking and everyday functioning. Although treatment options have improved in recent years, there is still no cure for the disease and disease-modifying therapies remain limited, underscoring the need for newer treatments that can slow progression and improve patient outcomes.
Drug development, therefore, remains an important focus. According to ADI, 158 drugs are currently being evaluated across 192 studies in the dementia pipeline. Clinical research is also receiving added attention this year, given the role such studies play in evaluating emerging therapies and bringing potential treatment advances closer to patients.
In this article, we highlight four biotech stocks — Biogen (BIIB - Free Report) , Alnylam Pharmaceuticals (ALNY - Free Report) , Prothena Corporation (PRTA - Free Report) and Acumen Pharmaceuticals (ABOS - Free Report) — worth keeping an eye on. These companies are either marketing an AD therapy or advancing experimental therapies for the disease. All four companies carry a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biogen
Biogen already has an established presence in the AD market through Leqembi (lecanemab), which it commercializes with partner Eisai. The drug is one of two FDA-approved amyloid-beta-directed antibodies for early AD, alongside Eli Lilly’s (LLY - Free Report) Kisunla (donanemab). Leqembi works by reducing amyloid plaques in the brain, an approach intended to slow disease progression and help preserve cognitive and functional abilities for longer.
Under the terms of their collaboration, Eisai records the drug’s product sales, while Biogen recognizes its 50% share of net product revenues and cost of sales, including royalties. Leqembi generated global in-market sales of $184 million in the second quarter of 2026, up 15% year over year. Meanwhile, Biogen recorded $63.7 million in Alzheimer’s collaboration revenues in the second quarter of 2026, up 16% from the year-ago period.
The drug’s commercial prospects received another boost following FDA approval of a subcutaneous version marketed as Leqembi Iqlik, allowing patients with early AD to begin therapy at home rather than through intravenous infusions.
Beyond Leqembi, Biogen is advancing diranersen, an experimental tau-targeting drug that was licensed from Ionis Pharmaceuticals. In the phase II CELIA study, the drug did not meet its primary endpoint of demonstrating a dose-response relationship in clinical decline, as higher doses failed to show progressively greater benefit. However, diranersen produced substantial reductions in tau biomarkers and showed signs of slowing cognitive decline across several clinical measures. Based on the overall biomarker and efficacy findings, Biogen plans to advance the candidate into confirmatory phase III development.
Continued uptake of Leqembi, coupled with the planned advancement of a candidate with a differentiated mechanism, keeps BIIB in focus within the evolving AD treatment landscape.
Biogen Inc. Price
Biogen Inc. price | Biogen Inc. Quote
Alnylam Pharmaceuticals
Alnylam is advancing mivelsiran, an experimental RNAi therapy designed to lower production of amyloid precursor protein (APP), which in turn could reduce the formation of amyloid-beta in the brain. The company recently shared additional phase I data in patients with early-onset AD, which showed that mivelsiran produced encouraging reductions in biomarkers linked to this pathway. Safety data from single and multiple doses also showed no evidence of an increased risk of amyloid-related imaging abnormalities (ARIA), a side effect that usually does not cause any symptoms but can occasionally be serious or fatal.
Alnylam recently advanced mivelsiran into the phase II APPlauDS study in patients with Down syndrome-associated AD. The study is evaluating whether lowering APP can reduce amyloid accumulation and potentially slow disease progression. The company is also developing ALN-5288, an RNAi therapeutic targeting tau, in collaboration with Regeneron Pharmaceuticals. A phase I study on this drug is currently underway in AD patients.
With two RNAi candidates directed at different targets implicated in AD — APP and tau — Alnylam has a differentiated approach to the disease that could broaden its neuroscience pipeline if these programs succeed.
Alnylam Pharmaceuticals, Inc. Price
Alnylam Pharmaceuticals, Inc. price | Alnylam Pharmaceuticals, Inc. Quote
Prothena Corporation
Prothena’s AD pipeline includes moponetug, an experimental antibody targeting a key region within the microtubule-binding region of tau. The candidate was discovered through Prothena’s collaboration with Bristol Myers, which holds worldwide rights and is responsible for its development and potential commercialization. Bristol Myers is evaluating moponetug in the phase II TargetTau-1 study in roughly 310 patients with early AD. The study is fully enrolled, with primary completion expected in the first half of 2027, making the program an important upcoming catalyst for Prothena.
Prothena is also advancing PRX012-TfR, a wholly owned AD program currently in preclinical development. The program combines its once-monthly, subcutaneous anti-amyloid antibody PRX012 with proprietary transferrin receptor technology aimed at improving the drug’s profile. It follows phase I testing of PRX012, which demonstrated amyloid-plaque clearance but was associated with a non-competitive ARIA-E profile (a type of brain swelling or fluid buildup seen on MRI scans).
With partnered tau and wholly owned amyloid programs, Prothena offers exposure to two different approaches to AD drug development.
Prothena Corporation plc Price
Prothena Corporation plc price | Prothena Corporation plc Quote
Acumen Pharmaceuticals
The company is developing sabirnetug, an experimental antibody designed to selectively target soluble amyloid-beta oligomers, a toxic form of amyloid believed to contribute to the early progression of AD. This differs from currently approved anti-amyloid antibodies, which primarily target other forms of amyloid, including plaques. Sabirnetug is currently being evaluated in the phase II ALTITUDE-AD study, which enrolled 542 patients with early AD. With top-line results from this study expected in late 2026, the readout represents an important upcoming catalyst for Acumen and should provide a clearer indication of whether selectively targeting toxic amyloid-beta oligomers can translate into clinical benefit.
Acumen is also expanding its AD pipeline. In June, the company nominated two candidates for development under its Enhanced Brain Delivery (EBD) program targeting AD. Both candidates have been designed to achieve higher brain penetration, with potential for improved safety compared with the corresponding unmodified antibodies.
With sabirnetug approaching a major phase II readout and additional AD candidates moving through preclinical development, ABOS remains a closely watched clinical-stage biotech in the AD space.
Acumen Pharmaceuticals, Inc. Price
Acumen Pharmaceuticals, Inc. price | Acumen Pharmaceuticals, Inc. Quote