Ionis's Shares Fall After Co-Developer Opts Against Starting Late-Stage Trial
May 26 2016 - 9:24AM
Dow Jones News
By Tess Stynes
Ionis Pharmaceuticals Inc. said partner GlaxoSmithKline PLC has
opted against initiating a phase-three study of a treatment for a
rare, potentially fatal organ condition the companies have been
co-developing.
The Carlsbad, Calif., drug developer's shares, down 43% this
year, fell 17% to $29.36 in recent premarket trading.
The U.S. Food and Drug Administration in April placed a clinical
hold on GlaxoSmithKline's phase-three study of Ionis-TTR as a
potential treatment for patients with transthyretin amyloid
cardiomyopathy, a condition in which the misfolded transthyretin
protein accumulates in the cardiac muscle.
Ionis said that GlaxoSmithKline would consider options for
transthyretin amyloid cardiomyopathy once additional clinical data
are available from other studies that are under way.
Ionis is evaluating the treatment in patients with a hereditary
version of transthyretin amyloidosis in continuing late-stage
study, which the company said remains on track, with clinical data
expected in the first half of next year.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
May 26, 2016 09:09 ET (13:09 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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