Shares of Isis Surge on News of Clinical Trial ResultsTuesday, September 24, 2013
Shares for Isis Pharmaceuticals Inc. have again surged following news of positive clinical trial results, hitting its all-time high of $39.83 in midday trading before settling at $38.48 — a 7 percent increase from the previous day of trading.
Stock rose on news that a Phase 2 study of its drug APOCIII showed dramatic decreases in triglyceride levels in patients with a rare genetic disorder called chylomicronemia that doesn’t let the body properly break down fat cells.
The now-$4.4 billion market cap company has been on an upward trajectory all year, trading Jan. 2 at $10.82 a share.
The company’s proprietary “antisense” therapy engineers RNA molecules to deactivate faulty genes.
— Meghana Keshavan