Ionis Pharmaceuticals Inc (NASDAQ: IONS) is having an incredibly rough start to the trading session today, and for good reason. The company released data from a key clinical trial, and while the data seemed positive at first, side effects proved to be a source of fear for investors. As a result, the stock is taking a bit of a dive, which prompted our partners at Trade Ideas to alert us to the declines. Currently (9:35), IONS is trading at $43.17 per share after a loss of $3.91 per share or 8.31% thus far today.
IONS Falls Hard On Clinical Data
As mentioned above, Ionis Pharmaceuticals is having a rough start to the trading session today after releasing results from a Phase 3 clinical trial. The trial, titled NEURO-TTR, was designed to assess inotersen for the treatment of inherited disorder familial amyloid polyneuropathy. While the study did indeed meet both the primary efficacy endpoints, side effects proved to be a major concern.
Unfortunately, three of the patients involved in the IONS trial developed thrombocytopenia, the technical term for low blood platelets. While two of the three patients recovered from the condition, one of the patients passed away due to an intracranial hemorrhage. Also, another patient was forced to discontinue treatment as a result of non-serious thrombocytopenia.
However, thrombocytopenia didn’t prove to be the only major side effect associated with the treatment. Unfortunately 4 more patients were forced to stop the treatment due to kidney events, one patient had to stop as a result of renal observation, one stopped treatment from chronic renal insufficiency, and two had to stop due to meeting a predefined renal stopping rule according to the release by IONS.
While the efficacy data proved to be overwhelmingly positive, Ionis Pharmaceuticals said that it is indeed working to continue the assessment of safety data. Unfortunately, even with great efficacy data, an unsafe drug is an unsafe drug my friends.
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on IONS. In particular, we’re interested to see what the evaluation of safety data brings to the table. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!