Primary endpoints met, but safety concerns spoil the party for Ionis
After releasing top-line results from a Phase III study into lead candidate inotersen, Ionis Pharmaceuticals (Nasdaq: IONS) saw its share price dip around 8%, as concerns over the drug’s side effects outweighed news that the trial had reached its primary endpoints.
At the same time, shares in Alnylam Pharmaceuticals (Nasdaq: ALNY), which is developing a rival treatment called patisiran, rose 10%.
The Californian biotech is developing the biologic to treat hATTR-PN, a rare and fatal genetic disease in which certain proteins build up in the nervous system and major organs. There are an estimated 10,000 patients with the condition worldwide.
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