Healthcare Business Update: Sarepta Presents Data, Pharmacyclics Enrolls 5th Patient
Sarepta Therapeutics (SRPT) presented phase IIb data over the weekend indicating that its eteplirsen treatment for Duchenne Muscular Dystrophy is effective. Piper Jaffray believe that the medication has the potential for accelerated approval and keeps its Overweight on Sarepta with a price target of $38.
Shares of Delcath Systems (NASDAQ:DCTH) plunge on the news that the FDA has accepted its Chemosat delivery system to treat a form of liver cancer for a standard review but not a priority one, as the company has wanted. The agency now has up to ten months to decide whether to okay the Chemosat system instead of six, which would be a priority assessment.
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Depomed (NASDAQ:DEPO) shares pop on word that its New Drug Application for Serada was accepted for filing by the FDA. Further, the FDA notified the firm that the medication will be discussed by its Reproductive Health Drugs Advisory Committee at an Advisory Committee meeting tentatively scheduled for March 4th.
Pharmacyclics (NASDAQ:PCYC) announces a fifth patient in a Phase III trial of its ibrutinib drug for treating forms of leukemia or lymphoma and thus triggers a third $50 million milestone payment from Johnson & Johnson (NYSE:JNJ) division Janssen Biotech. The firm may receive up to an extra $675 million in milestones, bringing the total amount of upfront and milestone payments to $975 million.
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