The study did manage to meet its primary endpoint, but five patients had to cease moving forward with the experiment due to injections site reactions. Following modest gains mid-week, the stock was down once again today.
Goldman Sachs analyst Salveen Richter said "IONS is an early pioneer of antisense RNA therapies and while the technology has the potential to address 'undruggable"'targets in broad therapeutic areas, a lackluster track record of developing successful drugs along with platform toxicity indicates a 'show me' story."
The analyst added that the firm questions whether or not Volanesorsen would be commercially viable "and recognize Ph3 TTR-Rx faces clinical and competitive risk. Next-gen LICA drugs and neurology targets, a focus, are unproven."
The medication in question is designed to help treat patients with elevated levels of triglycerides in the blood, or hypertriglyceridemia. Triglycerides are part of the muscle's constitution as they help to offer energy to your body.
Abdominal pain and inflamed pancreas can occur as a result of having this ailment.
IONS shares fell 10.8% Friday.
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