Myriad boosted by Alzheimer's results

Myriad Genetics Inc. shares climbed the most in two months after the company said its experimental drug was able to halt symptoms of mild Alzheimer's disease significantly better than a placebo.

The shares rose $1.40, or 4.5 percent, to close at $32.63 Monday on the Nasdaq Stock Market. Earlier they rose 9.5 percent to $34.19.

Shares of the Salt Lake-based biotech company have gained 25 percent in the past 12 months.

About 42 percent of patients taking a high dose of Myriad's experimental drug, Flurizan, showed mental improvement or their symptoms did not worsen after two years, compared with 14 percent of patients who did that well on placebo, Myriad said in a statement. The trial included 207 patients.

Analyst Annabel Samimy of UBS wrote in a note to clients that although the results support earlier findings, an ongoing final-stage clinical trial will be the "ultimate determinant" of Flurizan's value.

Samimy wrote she expects results from the final-stage trial in April 2008.