BioMarin (924801) stock jumps after positive Aryplase trial - 500 Beiträge pro Seite

[tdwzb]

BioMarin - BMRN - 924801

akt.: 5,9€ (SK USA 6,53$)

Reuters
BioMarin stock jumps after positive Aryplase trial
Thursday June 3, 5:18 am ET


ZURICH, June 3 (Reuters) - Shares in BioMarin Pharmaceutical Inc. (NasdaqNM:BMRN - News; Zurich:BMRZn.S - News) rose almost 10 percent on Thursday after the firm reported positive results from its Phase III clinical trial of drug Aryplase to treat a rare genetic disease.
ADVERTISEMENT


The stock was up 9.7 percent at 8.50 Swiss francs at 0900 GMT in a weaker Swiss market as the U.S.-based, Swiss-listed firm said it expected to file for U.S. and European Union marketing approval for the treatment in the fourth quarter.

Analyst Markus Metzger at Bank Vontobel expected the drug to be launched on the market in the second quarter of 2005. Aryplase treats mucopolysaccharidosis VI, a debilitating genetic disease for which no drugs are now available. Approval of Aryplase would enable BioMarin to corner the world MPS-VI market with an estimated 1,100 patients. The enzyme replacement therapy is estimated to cost a patient $170,000 a year.

U.S. and European Union regulators have designated Aryplase an "orphan" drug, a step that seeks to promote development of treatments for relatively rare disorders by granting new drugs market exclusivity.

Metzger at Bank Vontobel expected BioMarin to use the recently acquired 66-strong sales force, obtained from Medicis Pharmaceutical Corp (NYSE:MRX - News), to help it market Aryplase in North America and reach sales of $160 million after five years.

The firm might look for a European marketing partner or go it alone, he added. He expected BioMarin to break even in 2006 before swinging to net profit in 2007.

Metzger forecast a 2004 net loss of some $68 million with an earnings contribution from children`s asthma drug Orapred, also bought from Medicis, largely offset by disappointing sales of MPS-I drug Aldurazyme.

BioMarin, which markets Aldurazyme via joint-venture partner Genzyme Corp (NasdaqNM:GENZ - News), specialises in finding drugs for genetic diseases. It is also working on a burn treatment.

[tdwzb]

USA vorbörsl. aktuell 7,6$ = 6,2€

[tdwzb]

Thursday, Jun 3, 2004

· [$$] BioMarin`s Study Proves a Success
RealMoney - 6 minutes ago

[shandrani]

tdwzb
Hast du mal ein Link, für Kurse in den USA
einschließlich Vorbörse?
Grüße

[tdwzb]

z.b.:
www.island.com
www.usa-aktienprofi.de/realtime.htm
www.scottrader.com

[tdwzb]

7,95$

[tdwzb]

8,1$ = 6,6€

[tdwzb]

zeit sich erstmal zu verabschieden


Stock News : Biotech/Pharmaceuticals



Biomarin Study a Success

By TSC Staff
6/3/2004 8:04 AM EDT

Biomarin (BMRN:Nasdaq - commentary - research) was the second most-heavily traded stock in Thursday`s premarket session after the company said its treatment for an often fatal genetic disorder that saps cardio-pulmonary vigor caused a statistically significant improvement in patients` ability to walk for 12 minutes.

Biomarin`s lead drug candidate, Aryplase, is an enzyme replacement therapy for treatment of mucopolysaccharidosis VI, or MPS VI, a rare disease that causes deterioration of cell organs and gives rise to progressive cellular, tissue and organ debilitation. Most people with the disease die from related complications between childhood and early adulthood.


The stock was recently up $1.07, or 16%, to $7.60 on the Instinet premarket.

In a multi-center, double-blind trial of 39 patients, ranging in age from 5 to 29 years, the drug was shown to create a statistically significant enhancement of its primary endpoint: distance walked over 12 minutes. There was also a statistically significant reduction in the buildup of glycosaminoglycans in patients` urine, and a positive trend in a test called the three-minute stair climb.

Aryplase was generally safe and well tolerated in the study.

The company said it has identified more than 200 patients who could potentially benefit from the treatment, which reportedly will cost about $170,000 a year.

"Our recently acquired 66-person pediatric sales force is now planning educational campaigns targeting pediatricians and medical geneticists in the United States to raise awareness about MPS VI and other lysosomal storage diseases and metabolic disorders," the company said.