Needham Company Maintains a 'Hold' on ISIS Pharmaceuticals (ISIS); Pipeline
Progress Review " Long-Term, Early Stage Programs Are Encouraging
Needham Company maintains a 'Hold' on ISIS Pharmaceuticals (NASDAQ: ISIS).
Needham analyst says, "Yesterday, ISIS reviewed recent, selected progress of
four early and late-stage programs. We believe that mipomersen remains at center
stage, as we await the NDA submission by partner Genzyme/sanofi-aventis. Also,
ISIS highlighted its satellite company Excaliard, preferred collaboration with
Glaxo (NYSE: GSK) (Not/Rated), selective CRP program, and next generation PTP1B
inhibitor. Mipomersen: Isis reviewed recent ACC data presentations, noting that
there are now 4 Phase 3 trials demonstrating consistent efficacy of mipomersen
in LDL reduction. The mipomersen package is sufficient for HoFH submission in
the US with a likely 2H11 submission by partner Genzyme/sanofi-aventis (NYSE:
SNY) (Not/Rated). Additional 12-month data are needed for a new trial in HeFH,
which is still under negotiation with the FDA. The EU filing timeline remain
unchanged, which will include HoFH and severe hypercholesterolemia in 2Q11." For
more ratings news on ISIS Pharmaceuticals click here and for the rating history
of ISIS Pharmaceuticals click here. Shares of ISIS Pharmaceuticals closed at
$8.70 yesterday, with a 52 week range of $7.59-$11.24. |
