Executive Summary
This report analyzes 41 clinical abstracts presented at AD/PD 2026, spanning preclinical mechanistic data, Phase 1–3 trial updates, and a substantial body of real-world evidence, with biomarker-focused readouts representing the single largest category of update type. Anti-amyloid immunotherapy continues to dominate the competitive landscape, with lecanemab and donanemab generating the greatest volume of data across real-world cohorts, long-term efficacy extensions, and safety surveillance, underscoring their entrenched positions as the current standard of care in early Alzheimer's disease. Valiltramiprosate (ALZ-801, Alzheon) emerges as the most clinically active late-stage challenger, presenting multiple Phase 3 readouts demonstrating significant cognitive benefits, hippocampal atrophy reversal, and a differentiated safety profile in APOE4/4 homozygotes, a population historically underserved by anti-amyloid antibodies due to elevated ARIA risk. Real-world data from lecanemab and donanemab reveal an increasingly granular picture of treated populations, with donanemab cohorts skewing older and predominantly female, and lecanemab data from Chinese populations confirming tolerability and meaningful amyloid clearance, signaling growing ex-US commercial relevance. A notable and potentially disruptive signal from one real-world lecanemab abstract reported global cognitive decline and memory worsening despite frontal function improvement, which warrants close monitoring as post-approval safety evidence matures. Biomarker innovation represents a cross-cutting theme, with plasma pTau217, GFAP, amyloid PET negativity rates, and novel EEG-based predictors of adverse events all advancing as tools for patient stratification and treatment monitoring. Several earlier-stage programs merit attention, including the JAK inhibitor baricitinib for neuroinflammation, the CB2 agonist NTRX-07, and the muscarinic agent xanomeline/trospium targeting AD-related agitation, reflecting a broadening mechanistic aperture beyond amyloid clearance. The pipeline as a whole signals a field in transition, where amyloid immunotherapy dominance is being challenged not only by efficacy and safety differentiation strategies but by growing investment in inflammation, tau, and non-amyloid pathways as combination or alternative targets.