Ionis' Sefaxersen Hits Primary Endpoint in Phase 3 IgAN Trial
IONS is trading near its 52-week low of $44.2 (3.5% above the low).
Summary
Ionis and partner Roche announced positive interim results from the Phase 3 IMAgINATION study of sefaxersen in IgA nephropathy. The trial met its primary endpoint with statistically significant and clinically meaningful proteinuria reduction at 37 weeks, with no new safety signals. This is a major pipeline win for Ionis, which has faced recent setbacks including the eplontersen ATTR-CM failure and pelacarsen Lp(a)HORIZON miss. Sefaxersen is partnered with Roche, providing milestone and royalty upside. The stock is trading near its 52-week low, so this positive data could drive a significant re-rating. The study continues blinded to assess eGFR at week 105, with interim data to be presented at an upcoming medical congress.
At the time of this announcement, IONS was trading at $45.75 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $44.20 to $86.74. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.