Thanks for pointing that out. The share rise would more than probably be due to Rigel stopping development for theirs as opens up the need for a replacement which hopefully INVION can supply to the market. It mentions low expectations for its Lupus trials too so that opens up IVX to fill the gap.
Here is the news link:
http://news.yahoo.com/rigel-drops-asthma-drug-trial-fails-stock-hits-143920549.html
Health - AstraZeneca
Rigel Pharmaceuticals Inc said it will stop developing its experimental asthma drug after the therapy failed in a mid-stage trial, sending its shares down as much as 17 percent to a life-low.
The failure of the inhaled drug is the latest blow to the company's pipeline after its partner AstraZeneca pulled out of developments of their rheumatoid arthritis pill in June.
The inhaled asthma drug, R343, was being tested as a treatment for patients with allergic asthma, but failed to meet any of its goals, including improving lung function.
"This comes as a surprise after Phase I data demonstrated that R343 attenuates both the early and long acting response, which encompasses the full spectrum of current therapies," Leerink Swann analyst Marko Kozul wrote in a note to clients.
The drug was shown to be relatively safe and well tolerated.
Rigel said it would review its drug pipeline and discuss its plans in the 'near-term.
The company's pipeline now consists of therapies for lupus and dry eye, and the rheumatoid arthritis drug, fostamatinib -- the rights to which were returned to Rigel by AstraZeneca in June after disappointing clinical data.
"In September 2013, Rigel plans to announce salvage plans for Fos-D (fostamatinib) for indications other than rheumatoid arthritis," Kozul said.
However, he said there were low expectations from those plans and also from the mid-stage data expected from the company's lupus and lymphoma trials.
He cut his price target on the stock to $5 from $7.
Rigel shares were down 10 percent at $3.27 in morning trade and was the top percentage loser on the Nasdaq. The stock touched a life-low of $3 earlier in the session.
- Forums
- ASX - By Stock
- IVX
- rbs morgan's report
rbs morgan's report, page-18
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IVX (ASX) to my watchlist
|
|||||
Last
0.3¢ |
Change
-0.001(25.0%) |
Mkt cap ! $19.91M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.3¢ | $11.16K | 3.663M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 1718465 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 5804051 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 1500008 | 0.003 |
41 | 36800629 | 0.002 |
25 | 30066645 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 5804051 | 7 |
0.005 | 8372572 | 26 |
0.006 | 2459992 | 8 |
0.007 | 1100000 | 2 |
0.008 | 3905000 | 4 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
Featured News
IVX (ASX) Chart |
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online