We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Dr. Reddy's Reports Positive Top-Line Data on Psoriasis Drug
Read MoreHide Full Article
Dr. Reddy’s Laboratories Ltd. (RDY - Free Report) announced positive top-line results from the phase IIb study on PPC-06 (formerly referred to as XP23829) in patients with moderate-to-severe plaque psoriasis. In the study, PPC-06 met both co-primary endpoints of PASI-75 (proportion of treated subjects achieving a 75% reduction in their PASI score over baseline) and IGA scores of 0 or 1, with at least a 2-point reduction from baseline after 24 weeks of oral treatment.
PPC-06 is an extended release formulation of a fumaric acid ester (FAE), in-licensed from Xenoport for further development to treat moderate-to-severe plaque psoriasis.
Shares of the company have increased 23.2% in the past year against the industry’s decline of 38.2%.
The study was conducted to evaluate the tolerability, safety and efficacy of three doses of PPC-06 over 24 weeks. It showed that patients had stable, moderate-to-severe plaque psoriasis for at least 6 months, with Psoriasis Area and Severity Index (PASI) scores ≥12, 5-point Investigator’s Global Assessment (IGA) scores ≥3, and psoriasis lesions involving 10% or more of the patient’s Body Surface Area (BSA) at study baseline.
Per Dr. Reddy’s, given the positive clinical data from this study,PPC-06 may become the first approved oral prodrug of Monomethyl Fumarate (MMF) for the treatment of moderate-to-severe plaque psoriasis in the United States.
Psoriasis has a huge unmet medical need and several companies are developing drugs to treat this disease. Another company, Athenex, Inc. along with Taiwan’s PharmaEssentia Corp. announced positive preliminary data from phase I study on its pipeline candidate KX2-391 (tirbanibulin) ointment. Positive early clinical signals were observed in a small cohort of patients with psoriasis treated with the ointment in a phase I study.
We remind investors that, Novartis (NVS - Free Report) also has a psoriasis drug, Cosentyx in its portfolio which is one of its key drugs marketed in the United States.
Anika’s earnings per share estimates have moved up from $1.22 to $1.28 for 2019 and from $1.21 to $1.33 for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters, with average beat of 72.00%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119%and +164%in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
Dr. Reddy's Reports Positive Top-Line Data on Psoriasis Drug
Dr. Reddy’s Laboratories Ltd. (RDY - Free Report) announced positive top-line results from the phase IIb study on PPC-06 (formerly referred to as XP23829) in patients with moderate-to-severe plaque psoriasis. In the study, PPC-06 met both co-primary endpoints of PASI-75 (proportion of treated subjects achieving a 75% reduction in their PASI score over baseline) and IGA scores of 0 or 1, with at least a 2-point reduction from baseline after 24 weeks of oral treatment.
PPC-06 is an extended release formulation of a fumaric acid ester (FAE), in-licensed from Xenoport for further development to treat moderate-to-severe plaque psoriasis.
Shares of the company have increased 23.2% in the past year against the industry’s decline of 38.2%.
The study was conducted to evaluate the tolerability, safety and efficacy of three doses of PPC-06 over 24 weeks. It showed that patients had stable, moderate-to-severe plaque psoriasis for at least 6 months, with Psoriasis Area and Severity Index (PASI) scores ≥12, 5-point Investigator’s Global Assessment (IGA) scores ≥3, and psoriasis lesions involving 10% or more of the patient’s Body Surface Area (BSA) at study baseline.
Per Dr. Reddy’s, given the positive clinical data from this study,PPC-06 may become the first approved oral prodrug of Monomethyl Fumarate (MMF) for the treatment of moderate-to-severe plaque psoriasis in the United States.
Psoriasis has a huge unmet medical need and several companies are developing drugs to treat this disease. Another company, Athenex, Inc. along with Taiwan’s PharmaEssentia Corp. announced positive preliminary data from phase I study on its pipeline candidate KX2-391 (tirbanibulin) ointment. Positive early clinical signals were observed in a small cohort of patients with psoriasis treated with the ointment in a phase I study.
We remind investors that, Novartis (NVS - Free Report) also has a psoriasis drug, Cosentyx in its portfolio which is one of its key drugs marketed in the United States.
Dr. Reddy's Laboratories Ltd. Price
Dr. Reddy's Laboratories Ltd price | Dr. Reddy's Laboratories Ltd Quote
Zacks Rank, Stock to Consider
Dr. Reddy’s currently carries a Zacks Rank #5 (Strong Sell).
A better-ranked stock worth considering is Anika Therapeutics Inc. (ANIK - Free Report) carrying a Zacks Rank#1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Anika’s earnings per share estimates have moved up from $1.22 to $1.28 for 2019 and from $1.21 to $1.33 for 2020 in the past 60 days. The company delivered a positive earnings surprise in the trailing four quarters, with average beat of 72.00%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119%and +164%in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>