Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company released clinical data from a Phase 3 trial. Of course, that data was positive. As you could imagine, the news sent the stock screaming for the top. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from ALXN stock as a result; and
- what we’ll be watching for ahead.
ALXN Announces Clinical Data
As mentioned above, Alexion Pharmaceuticals is having an incredibly strong start to the trading session this morning after the company released clinical data. The data came from the Phase 3 PREVENT study, looking into Solaris as a treatment for patients with anti-aquaporin-4 (APQ4) auto anti-body positive neuromyelitis optica spectrum disorder (NMOSD)
NMOSD is a rare disorder of the central nervous system characterized by relapses, each of which results in stepwise accumulation of disability, including blindness, paralysis, and sometimes death. With no approved treatments for this indication, there is a large, unmet medical need that ALXN plans to fill with Solaris.
In the release, the company said that the study met its primary endponit of time to first adjudicated on-trial response. The data demonstrated that Solaris reduced the risk of NMOSD relapse by 94.2% compared to placebo. By week 48, 97.9% of treated patients were free of relapse, compared to 63.2% of patients in the placebo arm. Also, the company said that Solaris proved to be generally well tolerated and maintains a safety profile consistent with that seen in previous studies and real-world use among multiple approved indications.
In a statement, John Orloff, M.D., Executive Vice President and Head of Research and Development at ALXN, had the following to offer:
These results far exceeded our expectations. The remarkable reduction in relapse risk demonstrates the unique ability of Soliris® to inhibit complement, and suggests a promising new treatment for NMOSD… Given that patients currently have no approved therapies, we are moving quickly to discuss these results with regulators and file for approval in the U.S., EU, and Japan.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Alexion Pharmaceuticals, the news proved to be overwhelmingly positive. With the data showing strong efficacy, safety, and tolerability the company is now one step closer to Solaris being approved for its fourth indication. So, it comes as no surprise that excited investors are pushing the stock toward the top in the market this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:38), ALXN is trading at $130.00 per share after a gain of $8.01 per share or 6.57% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ALXN. IN particular, we’re interested in following the story surrounding the company’s continued work to get Solaris approved for more indications. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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