logo
  Join        Login             Stock Quote

ISIS Earns $7.5M Milestone Payment Related To Antisense Drug Study

 February 19, 2013 08:10 AM
 


(By Balachander) ISIS Pharmaceuticals Inc. (NASDAQ: ISIS) said it has earned a milestone payment of $7.5 million from GlaxoSmithKline Plc (NYSE: GSK) related to the initiation of an antisense drug study.

Carlsbad, California-based ISIS said the Phase 2/3 study of ISIS-TTRRx - an antisense drug in development with GlaxoSmithKline to treat transthyretin (TTR) amyloidosis - is designed to support an application for marketing approval of ISIS-TTRRx in patients with familial amyloid polyneuropathy (FAP).

[Related -Is This The Start Of A Correction?]

ISIS said it is eligible to earn an additional $50 million in pre-licensing milestone payments to support the Phase 2/3 study of ISIS-TTRRx­. The company is also eligible to receive regulatory and sales milestone payments and double-digit royalties on sales of ISIS-TTRRx.

The companies recently amended the clinical development plan and financial terms relating to ISIS-TTRRx to support this registration-directed Phase 2/3 clinical study on ISIS-TTRRx.

ISIS noted that TTR amyloidosis is a severe and rare genetic disease that leads to death.  TTR amyloidosis affects roughly 50,000 patients worldwide and current treatments are limited.

"Patients with familial amyloid polyneuropathy, or FAP, experience TTR build up in their peripheral nerves and experience the loss of motor functions, such as walking," said Merrill Benson, Professor of Medical Genetics at Indiana University. 

[Related -Futures Down Ahead Of Service Sector Data; Compugen Ltd. (CGEN) Soars]

By inhibiting the production of TTR protein, ISIS-TTRRx could offer an alternative approach to treating patients with FAP, Benson said.  A drug that can reduce TTR levels could potentially slow or arrest progression of this terrible disease.

The U.S. Food and Drug Administration (FDA) granted ISIS-TTRRx fast track designation and orphan drug status for the treatment of FAP.

ISIS shares, which have been trading in the 52-week range of $7.02 to $15.61, ended at $14.43 on Friday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageIntegrated Device Technology Inc. (IDTI) Q1 Earnings Preview: Another Beat and Pop?

Integrated Device Technology Inc. (NASDAQ:IDTI) will issue first quarter 2015 financial results on July 28, read on...

article imageHerbalife Ltd. (NYSE:HLF) Q2 Earnings Preview: The Potential To Shock?

Herbalife Ltd. (NYSE:HLF) will release its second quarter 2014 financial results after the close of trading read on...

article imageHealth Net, Inc. (HNT): Potential to Be Huge Winners Says Bank of America

As of this keystroke, Health Net, Inc. (NYSE: HNT) shares are up around 4% on the day. The managed health read on...

article imageHomeAway, Inc. (AWAY) Q2 Earnings Preview: Top and Bottom Line Bullish Surprise?

HomeAway, Inc. (NASDAQ:AWAY) will report its financial results for the second quarter ended June 30, 2014 read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.