Isis Pharma Gains on Mid-Stage Data - Analyst Blog

Isis Pharmaceuticals, Inc.'s ISIS shares were up 7.54% on positive top-line data from a mid-stage study on its experimental anti-coagulant, ISIS-FXIRx. The company presented results from a global, multi-center, open-label, comparator-controlled phase II study in patients undergoing total knee replacement surgery or total knee arthroplasty (TKA). Two doses of ISIS-FXIRx (200mg, 300mg) were compared to Sanofi's SNY Lovenox (enoxaparin).

Results showed a dose-dependent decrease in venous thrombolic events (VTE) in ISIS-FXIRx-treated patients. Patients in the 300mg group experienced a seven-fold lower incidence in VTEs compared to patients on Lovenox. While patients in all groups experienced a very low rate of bleeding, those treated with ISIS-FXIRx experienced numerically fewer bleeding events compared to patients treated with Lovenox.

ISIS-FXIRx works by inhibiting the production of Factor XI -- a coagulation factor that plays a key role in the formation of blood clots. High levels of Factor XI increase the risk of thrombosis, which could lead to heart attacks and strokes. Moreover, high levels of Factor XI increase the risk of venous thrombosis, a common problem after surgery, especially major orthopedic procedures like knee or hip replacement.

Isis Pharma said that full results from this study will be presented at an upcoming scientific meeting.

Our Take

The phase II data on ISIS-FXIRx looks good and should allow Isis Pharma to strike a lucrative partnership deal for further development. The lower incidence of bleeding is important as bleeding is a major concern associated with the use of anti-coagulants and could prove to be fatal. So a lower bleeding rate could provide ISIS-FXIRx with an edge over existing anti-coagulants.

Isis Pharma is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the biotech sector include Gilead Sciences Inc. GILD and Osiris Therapeutics OSIR. Both are Zacks Rank #1 (Strong Buy) stocks.

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