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Fly News Breaks for March 9, 2018
Mar 9, 2018 | 13:08 EDT
Piper Jaffray analyst Christopher Raymond keeps an Overweight on Alexion Pharmaceuticals (ALXN) following news of a temporary trial halt for Roche's (RHHBY) Soliris/AXLN1210 challenger RO7112689 in Europe. While a bit early to write off RO7112689 as a competitive threat, the halt highlights the strength of the clinical profile for ALXN1210 and Soliris, Raymond tells investors in a research note. He remains remains confident in Alexion's positioning and bullish on the shares with a $170 price target.
News For ALXN;RHHBY From the Last 2 Days
Sep 24, 2018 | 06:33 EDT
Alexion Pharmaceuticals announced positive topline results from the Phase 3 PREVENT study of Soliris in patients with anti-aquaporin-4 auto antibody-positive neuromyelitis optica spectrum disorder. NMOSD is a rare, devastating, complement-mediated disorder of the central nervous system characterized by relapses. Each relapse results in stepwise accumulation of disability, including blindness and paralysis, and sometimes premature death.1,2,3 Patients who have anti-AQP4 auto-antibodies represent approximately three quarters of all patients with NMOSD.4,5,6,7 There are currently no approved therapies for this disease. The study met its primary endpoint of time to first adjudicated on-trial relapse, demonstrating that treatment with Soliris reduced the risk of NMOSD relapse by 94.2% compared to placebo. At 48 weeks, 97.9 percent of patients receiving Soliris were free of relapse compared to 63.2% of patients receiving placebo. Soliris was generally well tolerated with a safety profile consistent with that seen in previous clinical studies and real-world use in its three approved indications. No cases of meningococcal infection were observed.
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