Biogen and Ionis flying high as Spinraza meets endpoint
US biotech firm Biogen (Nasdaq: BIIB) and Ionis Pharmaceuticals (Nasdaq: IONS) have announced that Spinraza (nusinersen), an investigational treatment for spinal muscular atrophy (SMA), has met the primary endpoint of a Phase III trial.
Cherish, the study evaluating Spinraza in later-onset SMA, found that children receiving the drug experienced a highly statistically-significant improvement in motor function compared to those who did not receive treatment. It also demonstrated a favorable safety profile in the trial.
Biogen was trading nearly 7% higher at $296.24 after two hours of trading on Monday, while California-based RNA-targeted drug discovery and development company Ionis, was up 19% at $32.28.
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