After extensive research, number-crunching, sorting, and filtering, the results are in. Here are your three most humongous performers in the world of health-care this week.
The study included 184 patients with mild-to-moderate persistent allergic asthma. ARRY-502 met the study’s primary endpoint of significant improvement in a key measure of lung function. Several secondary endpoints were also successfully met, including statistically significant improvement in asthma control and symptom-free days during treatment.
Piper Jaffray bumped its price target for Array Biopharma Inc (NASDAQ:ARRY) up from $7 to $10 after the good results were announced. That represents more than a 50% upside potential from the stock’s current price. Array Biopharma Inc (NASDAQ:ARRY) says that it’s now looking for an “appropriate partner” to help complete development and potentially market ARRY-502.
An “alley-oop” from the opponent
Sarepta Therapeutics Inc (NASDAQ:SRPT) announced on Thursday that it plans to seek approval for Duchenne muscular dystrophy, or DMD, drug eteplirsen without assurances from the Food and Drug Administration about an accelerated approval pathway. The biotech completed a phase 2 study for eteplirsen that showed impressive results. However, the small number of patients involved could present a hurdle for FDA approval.
In the meantime, Prosensa Holding NV (NASDAQ:RNA), along with partner GlaxoSmithKline plc (ADR) (NYSE:GSK), continue to plug ahead with a phase 3 study of DMD drug drisapersen that includes 186 participants — much larger than the 12 boys in Sarepta Therapeutics Inc (NASDAQ:SRPT)’s mid-stage study. Initial results from the study are expected in late 2013. An FDA approval could be forthcoming as early as the second half of next year.
The company’s good news stemmed from strong sales growth for Esbriet, which is used in the treatment of idiopathic pulmonary fibrosis, a progressive form of lung disease. InterMune Inc (NASDAQ:ITMN) reported that sales of the drug were $14.4 million during the second quarter. Analysts expected $12 million.
With solid sales in the last quarter, InterMune Inc (NASDAQ:ITMN) now expects full-year revenue of $55 million to $70 million. That’s a nice jump from the previous revenue guidance of $40 million to $55 million.