Piper Jaffray: ISIS Pharmaceuticals Initiates Phase I Study

In a research report published today by Piper Jaffray, ISIS Pharmaceuticals ISIS is conducting a Phase I study for antisense drug ISIS-STAT3. Piper Jaffray commented in the report, “ISIS-STAT3Rx is the first ever more potent generation 2.5 antisense drug to enter the clinic. The primary driver for ISIS shares continues to be NDA filing and U.S. and European approval of Kynamro for familial hypercholesterolemia. However, the company is also advancing a rich pipeline of 27 additional antisense drugs and expects to add 3-5 new candidates this year. We maintain our Neutral, however are warming up to shares of ISIS ahead of potential Kynamro approval.” Piper Jaffray maintains its $10 PT on ISIS, which is currently trading at $8.35.