Following Good Results, Ionis Ends Trial Early For Medicine For Fatal Infants’ Disease
Stocks for Ionis and Biogen Inc. have soared on the news that it's treatment for a rare, often fatal infant disease has proven safe.
Los Angeles Times:
Ionis Shares Leap 30% After A Drug Trial Goes So Well, It Ends Early
An experimental drug for an incurable, often fatal infant disease has performed so well that a clinical trial was halted ahead of schedule, development partners Ionis Pharmaceuticals Inc. and Biogen Inc. announced Monday. Shares of Carlsbad, Calif.-based Ionis soared 30.2% to close at $38.01. (Fikes, 8/1)
In other pharmaceutical news —
Alphabet Looks To Piggyback Tiny Implants Onto Body's Nerves
Google's parent company Alphabet and drugmaker GlaxoSmithKline have embarked on a $700 million joint venture seeking to treat disease by piggybacking tiny electronic devices onto nerves, the firms announced Monday. Alphabet's Verily life-sciences unit will own 45 percent of the new Galvani Bioelectronics and will house a research hub in its South San Francisco facilities. British pharmaceutical giant GSK will own 55 percent. The technology could potentially treat chronic diseases such as arthritis, diabetes and asthma, GSK said. (Baron, 8/2)