Isis Pharmaceuticals, Inc.
) continues to progress well with its collaboration agreement
), which is focused on the discovery and development of new
therapeutics against targets for rare and/or serious
In Oct 2013, Isis Pharma earned a milestone payment of $7
million following the addition of candidate ISIS-GSK3Rx under its
collaboration agreement with Glaxo.
Isis Pharma recently initiated a phase I study on pipeline
candidate, ISIS-GSK3. The candidate is being developed to inhibit
the production of an undisclosed target for a common viral
With the initiation of the phase I study, Isis Pharma earned
another $3 million milestone payment from Glaxo.
While Isis Pharma is responsible for the development of
ISIS-GSK3Rx to the phase II proof-of-concept stage, Glaxo has an
exclusive option to in-license the program thereafter and develop
and commercialize the candidate. Isis Pharma is eligible to
receive additional pre-licensing milestone payments from Glaxo as
it progresses with the development of candidate ISIS-GSK3.
Isis Pharma is also entitled to receive double-digit royalties
on sales of ISIS-GSK3.
Meanwhile, last week, Isis Pharma announced that it will
evaluate a higher dose of ISIS-SMNRx in children affected by
spinal muscular atrophy (SMA).
As a result, Isis Pharma plans to add a 12 mg cohort to the
ongoing phase Ib/2a study which is evaluating ISIS-SMN in
children suffering from SMA. The study with the higher dose will
commence in 2014.
The pipeline progress at Isis Pharma is encouraging. We remind
investors that Kynamro is Isis Pharma's only approved product,
developed in collaboration with Genzyme, a
) company for cholesterol management in patients suffering from
homozygous familial hypercholesterolemia (HoFH). The product was
launched in the U.S. in Mar 2013.
We are positive on Isis Pharma's agreement with Glaxo which
covers up to six programs. It not only validates Isis Pharma's
antisense technology, it also provides the company with funds in
the form of upfront, milestone and other payments.
Isis Pharma currently carries a Zacks Rank #2 (Buy). Right
) looks attractive with a Zacks Rank #1 (Strong Buy).
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