Momenta Pharmaceuticals, Inc. announced positive data from a confirmatory phase III study on its biosimilar candidate, M923. Shares inched up 1.1% on the news.
The company’s share price has gained 28.9% ever since the company released its third-quarter results on Nov 2. The share price rally was even better than the Zacks classified Medical-Biomed/Genetics market of 9.1%.
M923, a biosimilar version of AbbVie Inc.’s (ABBV - Free Report) flagship drug, Humira (adalimumab), is being developed for the treatment of patients with moderate-to-severe chronic plaque psoriasis.
The study evaluated the safety, efficacy and immunogenicity of M923 in adult patients with moderate-to-severe chronic plaque psoriasis, who received M923, Humira or Humira alternating with M923 for up to 48 weeks.
Results demonstrated that the proportion of patients who met the primary endpoint was equivalent on the M923 and Humira arm. The primary endpoint was at least 75% reduction on an index of psoriasis severity, following 16 weeks of treatment.
Momenta expects to present full data from this study at future conferences and in publications.
Humira is approved for the treatment of autoimmune/inflammatory diseases including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis and plaque psoriasis. In the first nine months of 2016, Humira raked in worldwide sales of $11.8 billion, up 14.6%.
Note that in September, Amgen Inc.’s (AMGN - Free Report) biosimilar version of Humira, Amjevita, was approved in the U.S. for the same indications as the reference product. Amjevita is the first biosimilar version of Humira to be approved by the FDA. However, Amgen is unlikely to launch Amjevita in 2017 due to the ongoing litigation with AbbVie.
We remind investors that Momenta had a collaboration agreement with Shire plc’s Baxalta for the development and commercialization of M923. However, in Sep 2016, Shire exercised its right to terminate their collaboration agreement and is currently in the process of transitioning M923 to Momenta.
MOMENTA PHARMA Price
Momenta currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Momenta Pharmaceuticals, Inc. announced positive data from a confirmatory phase III study on its biosimilar candidate, M923. Shares inched up 1.1% on the news.
The company’s share price has gained 28.9% ever since the company released its third-quarter results on Nov 2. The share price rally was even better than the Zacks classified Medical-Biomed/Genetics market of 9.1%.
M923, a biosimilar version of AbbVie Inc.’s (ABBV - Free Report) flagship drug, Humira (adalimumab), is being developed for the treatment of patients with moderate-to-severe chronic plaque psoriasis.
The study evaluated the safety, efficacy and immunogenicity of M923 in adult patients with moderate-to-severe chronic plaque psoriasis, who received M923, Humira or Humira alternating with M923 for up to 48 weeks.
Results demonstrated that the proportion of patients who met the primary endpoint was equivalent on the M923 and Humira arm. The primary endpoint was at least 75% reduction on an index of psoriasis severity, following 16 weeks of treatment.
Momenta expects to present full data from this study at future conferences and in publications.
Humira is approved for the treatment of autoimmune/inflammatory diseases including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis and plaque psoriasis. In the first nine months of 2016, Humira raked in worldwide sales of $11.8 billion, up 14.6%.
Note that in September, Amgen Inc.’s (AMGN - Free Report) biosimilar version of Humira, Amjevita, was approved in the U.S. for the same indications as the reference product. Amjevita is the first biosimilar version of Humira to be approved by the FDA. However, Amgen is unlikely to launch Amjevita in 2017 due to the ongoing litigation with AbbVie.
We remind investors that Momenta had a collaboration agreement with Shire plc’s Baxalta for the development and commercialization of M923. However, in Sep 2016, Shire exercised its right to terminate their collaboration agreement and is currently in the process of transitioning M923 to Momenta.
MOMENTA PHARMA Price
Momenta currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on AMGN - FREE
Get the latest research report on ABBV - FREE