Biotech companies that treat Hepatitis C were on fire in 2014. The leader of the pack, Gilead Sciences, Inc. GILD, had the most successful drug launch in history. AbbVie Inc ABBV and Enanta Pharmaceuticals Inc ENTA also got Viekira Pak approved in late 2014.
Additionally, Merck & Co., Inc. MRK paid $3.5 billion to acquire Idenix Pharmaceuticals for its early stage Hepatitis C drug. Achillion Pharmaceuticals ACHN is also up over 350 percent in the last year, due to enthusiasm over its nucleotide inhibitor for Hepatitis C.
Regulus Therapeutics Inc RGLS participated in the trend too.
Regulus stock jumped over 100 percent when the company announced positive results from its lead microRNA drug called RG-101.
Unlike Gilead's pill, RG-101 is delivered with a single injection. In October, Regulus announced Phase 1 interim results that showed encouraging drops in viral loads. RG-101 was also safe and well tolerated.
Investors are now awaiting data from RG-101 in higher doses.
The company has guided that it expects to announce new updated results from RG-101 in early February.
The new results will include data from the viral load reduction in 4 mg/kg dosing cohort and a follow-up from the 2 mg/kg cohort.
It is expected that the full data will be released at the European Association for the Study of the Liver (EASL) conference in April.
In a recent report, analysts at Deustche Bank stated: "The company has achieved proof of concept in targeting miRNAs in Hepatitis C patients and we view this as a major de-risking point for the platform. We believe Regulus has the opportunity to unlock significant long-term value for investors as this platform technology generates more clinical programs and matures."
The firm set a $30 price target for Regulus.
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