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Biogen, Ionis Ink Deal for Spinal Muscular Atrophy Therapies
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Biogen Inc. (BIIB - Free Report) has expanded its collaboration with Ionis Pharmaceuticals, Inc. (IONS - Free Report) to enhance its portfolio of medicines to treat spinal muscular atrophy (SMA), a devastating neuromuscular disease.
Per the latest deal, the companies have collaborated to identify new antisense oligonucleotide drug candidates for the treatment of SMA. Biogen has the option to in-license any new therapies emerging from the deal and will thereafter develop and commercialize the product. For the collaboration, Biogen will make an upfront payment of $25 million to Ionis while the latter will also be entitled to development, regulatory as well as royalty payments if new therapies are approved.
Biogen and Ionis launched their first SMA treatment, Spinraza, in December last year. It consolidated Biogen’s position in the neurological disease market with the drug being the first and only treatment to be approved in the United States for SMA. The drug is off to a promising start, witnessing strong patient uptake in the United States and internationally.
SMA is a hereditary neuromuscular disease that progressively destroys lower motor neurons leading to severe and progressive muscular atrophy and weakness. The most severe type of SMA could result in paralysis and difficulty in performing basic functions like breathing and swallowing. The market potential of SMA disease is huge.
According to the SMA Foundation, the disease is believed to affect 10,000 - 25,000 children and adults in the United States, making it one of the most common rare diseases. About 1 in 10,000 children are born with the disease while 1 in 50 people (approximately 6 million Americans) carry the gene mutation that causes SMA. It is divided into sub-categories Type 1 - 4, with Type 1 being the most severe.
Biogen’s shares have risen 15.3% this year, better than the industry’s growth of 3% in the same time frame.
Zacks Rank & Stocks to Consider
Biogen carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the pharma/biotech sector include H. Lundbeck A/S and XOMA Corporation (XOMA - Free Report) . While XOMA carries a Zacks Rank #1 (Strong Buy), H. Lundbeck has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Lundbeck have risen 21.8% so far this year while 2018 earnings estimates have gone up 3.2% in the past 60 days.
While XOMA shares have skyrocketed 651% year to date, its 2018 loss estimates have narrowed almost 20% over the past 60 days.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Biogen, Ionis Ink Deal for Spinal Muscular Atrophy Therapies
Biogen Inc. (BIIB - Free Report) has expanded its collaboration with Ionis Pharmaceuticals, Inc. (IONS - Free Report) to enhance its portfolio of medicines to treat spinal muscular atrophy (SMA), a devastating neuromuscular disease.
Per the latest deal, the companies have collaborated to identify new antisense oligonucleotide drug candidates for the treatment of SMA. Biogen has the option to in-license any new therapies emerging from the deal and will thereafter develop and commercialize the product. For the collaboration, Biogen will make an upfront payment of $25 million to Ionis while the latter will also be entitled to development, regulatory as well as royalty payments if new therapies are approved.
Biogen and Ionis launched their first SMA treatment, Spinraza, in December last year. It consolidated Biogen’s position in the neurological disease market with the drug being the first and only treatment to be approved in the United States for SMA. The drug is off to a promising start, witnessing strong patient uptake in the United States and internationally.
SMA is a hereditary neuromuscular disease that progressively destroys lower motor neurons leading to severe and progressive muscular atrophy and weakness. The most severe type of SMA could result in paralysis and difficulty in performing basic functions like breathing and swallowing. The market potential of SMA disease is huge.
According to the SMA Foundation, the disease is believed to affect 10,000 - 25,000 children and adults in the United States, making it one of the most common rare diseases. About 1 in 10,000 children are born with the disease while 1 in 50 people (approximately 6 million Americans) carry the gene mutation that causes SMA. It is divided into sub-categories Type 1 - 4, with Type 1 being the most severe.
Biogen’s shares have risen 15.3% this year, better than the industry’s growth of 3% in the same time frame.
Zacks Rank & Stocks to Consider
Biogen carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the pharma/biotech sector include H. Lundbeck A/S and XOMA Corporation (XOMA - Free Report) . While XOMA carries a Zacks Rank #1 (Strong Buy), H. Lundbeck has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Lundbeck have risen 21.8% so far this year while 2018 earnings estimates have gone up 3.2% in the past 60 days.
While XOMA shares have skyrocketed 651% year to date, its 2018 loss estimates have narrowed almost 20% over the past 60 days.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>