Sunday 15 December 2013

Upcoming FDA PDUFA: Dec 18 - Theravance + GlaxoSmithKline - Anoro Ellipta (umeclidinium bromide and vilanterol) for Chronic Obstructive Pulmonary Disease (COPD)

Date of FDA Decision (PDUFA): 
December 18, 2013

Company name(s): 
Theravance and GlaxoSmithKline
Brand Name: 
Anoro Ellipta
Generic Name:
umeclidinium bromide + vilanterol
Type of application: 
First NDA Submission; combination of previously unapproved bronchodilator  umeclidinium bromide + vilanterol, previously approved as part of other Ellipta drugs + Ellipta mixing technology previously approved as part other Ellipta drugs
Indication:
Chronic Obstructive Pulmonary Disease (COPD)
Advisory Committee (AdCom) History: 
On Sept 10, 2013, FDA Pulmonary-Allergy Drugs Advisory Committee (PADAC) voted 11 yes to 2 no that the efficacy and safety data provide substantial evidence to support approval of Anoro Ellipta

Following up from their previous joint COPD development Breo Ellipta, which was approved in May 2013, Theravance and GSK have now submitted an application for another combination therapy – Anoro Ellipta, which features umeclidinium bromide (GSK) and vilanterol (Theravance) - a long-acting muscarinic antagonist (LAMA) and a long-acting adrenergic receptor beta 2 agonist (LABA) in 62.5/25mcg and 125/25mcg doses. The Anoro Ellipta technology features a dual-compound Ellipta inhaler device, which only allows for compound mixing at the point of entry.

COPD is the fourth leading cause of death in the US. The global COPD market was worth US$ 10.59 billion in 2010. Although the market needs are sufficiently met with a multitude of drugs (COPD leaders are Advair, Arcapta, Daliresp, etc), Theravance and GSK can contend for a meaningful portion of the market due to an apparently lower number of side effects in comparison with Anoro Ellipta’s competitors.

On September 10, 2013, FDA Pulmonary-Allergy Drugs Advisory Committee (PADAC) voted 11 yes to 2 no that the efficacy and safety data provide substantial evidence to support approval of Anoro Ellipta, probably paving the wave for a positive approval on the 18th. 





Saturday 7 December 2013

APPROVED: Gilead Sovaldi (sofosbuvir) for the treatment of Hepatitis C. What Next?

Gilead Sciences' Sovaldi (sofosbuvir), the revolutionary oral Hepatitis C drug, received approval after Nasdaq closing on Friday, keeping any subsequent stock movements a mystery until Monday.




Sovaldi has been so hyped up because it is a liver-targeting nucleoside analogue, or "nuke" - a class of drugs which has had a long and troublesome battle with late-stage clinical trials before due to high risk of hepatic toxicity. Sovaldi is also the only oral HCV treatment which does not require co-treatment with the infamous interferon - an self-injectable drug whose side effects, such as hair loss, depression, nausea and headaches are so severe and debilitating, many patients have been putting off therapy for years in hopes for new drugs to reach the market. Prior to Sovaldi's positive news, many patients were "warehoused" by doctors on high hopes of approval, particularly following a unanimously favorable AdCom just a month prior. If only Keith Richards, Steven Tyler and Pamela Anderson had known earlier. 

The Sovaldi hype also managed to suck the wind out Vertex's sales (pun intended) of Incivek (telaprevir), whose royalties the company now spun off to Janssen, cutting 370 jobs.

Sovaldi is the third ever drug to receive a Breakthrough Therapy Designation (BTD) status from the FDA, as Hepatitis C, although slow to manifest, is commonly fatal. The BTD served to significantly speed up the drug's market entry and saved Gilead a nifty sum on extensive Phase III trials. Despite this, Sovaldi is expected to cost $1,000 a day, which translates into $84,000 for a regular course of treatment or $168,000 for more severe, chronic cases of HCV. Pretty high for a drug targeting upward of 80% of a 3-million-infections-a-year market, and expected to rake in up to $7 billion a year. In the U.S., the drug will be covered by insurance.

It is not all smooth sailing from now on for Sovaldi, however. Abbvie/Enanta's non-nuke interferon-free ABT-450, which just completed Phase III, allegedly helped 96% of HCV genotype 1 variant (70% of all sufferers) patients in clinical trials, and is due to file an NDA in the first quarter of 2014. Likewise Bristol-Myers Squibb's world's first interferon-free and ribavirin-free combination of daclatasvir and asunaprevir was shown effective in treating 84.7% of interferon-ineligible patients. In an attempt to avoid the game of musical chairs in the U.S. Hep C market, BMS went straight for the 3-million-sufferer market of Japan, filing for approval there on November 4. How the nuke/non-nuke game will pan out remains to be seen. 



Friday 6 December 2013

APPROVED: Auxilium's Xiaflex sBLA for the treatment of Peyronie's disease

Despite the serious side effects, which include "penile fracture (rupture of one of the penile bodies within the penile shaft, also known as corporal rupture) and other serious penile injury" the FDA just voted in favor of market approval of Auxilium's Xiaflex, soaring the AUXL stock within just minutes of approval, but probably not enough, perhaps on the news of Moody's downgrading it from "stable" to "negative" in relation to recent lawsuits involving Auxilium's Testim gel.



Xiaflex (Collagenase clostridium histolyticum) is an enzyme produced by the bacterium Clostridium histolyticum that dismantles collagen. It is marketed and is being developed as a local injection into areas with overly high collagen accumulation, such as in the case of Dupuytren’s disease (severely clenched fingers) and now Peyronie’s disease (penile curvature)—a connective tissue disorder involving the growth of fibrous plaques in the soft tissue of the penis affecting up to 10% of men. According to Auxilium, 65,000 to 120,000 new patients are diagnosed with Peyronie’s disease each year. Peyronie’s disease causes pain, abnormal curvature, erectile dysfunction, indentation, loss of girth and shortening.

In two 400-patient trials Xiaflex was injected into the penile plaque over a period of several months. The treatment yielded a 37.6 reduction in penile curvature in one trial and a 30.5% reduction in the second. The average deformity of the penis at the beginning of the study was 48.8 degrees in men receiving the drug and 49 degrees in those receiving placebo. After 52 weeks, the deformity was only 31 degrees in men receiving Xiaflex and 39 degrees in those receiving placebo. 

According to the FDA, "[The Xiaflex] treatment course for Peyronie’s disease consists of a maximum of four treatment cycles. Each treatment cycle consists of two Xiaflex injection procedures (in which Xiaflex is injected directly into the collagen-containing structure of the penis) and one penile modeling procedure performed by the health care professional."

The future of Xiaflex for this new indication is not yet certain. The total cost of treatment per patient is expected to be US$ 40,000, and there is no news yet on whether insurers are willing to cover the costs. In the case of Dupuytren's, for which Xiaflex is already approved, 95%+ of patients are reimbursed under common insurance schemes. For Peyronie's, at least 130 patients a year fit the "30 - 90 degree curvature" criteria of the ideal patient, utilized in the IMPRESS trial. The indication may be flexible. For those to whom the issue may seem cosmetic, roughly 52% of Peyronie's sufferers report erectile dysfunction and pain and are likely to really, really want the treatment. 

Gilead stock trending up on anticipated sofosbuvir approval on Sunday, Auxilium surges intraday prior to Xiaflex Peyronie's verdict

The FDA is due to deliver two drug approval verdicts today and over the weekend on Gilead's Sovali (sofosbuvir) for the treatment of Hepatitis C and Auxilium's Xiaflex (collagenase Clostridium histolyticum) for the treatment of Peyronie's disease.

Following a unanimously positive FDA AdCom review, Sovaldi is likely set to reach the market by Sunday. The public seems to agree, with a 93% confidence vote on our LinkedIn FDA approvals group.

Gilead's stock is steadily trending on the positive expectations today: 





Auxilium, despite a generally positive stock performance, continues to evoke mixed feelings from analysts and followers. Questions remain about whether the limited benefits of Xiaflex compensate for the relatively serious side effects. Despite this, Peyronie's disease sufferers are seemingly psyched for the drug to reach the market, according to the Peyronie's grapevine

Despite the side effects, Xiaflex would automatically provide benefits for the sufferers as it would be the first and only non-surgical treatment for Peyronie's disease. Without an AdCom, the general gist is that FDA can go either way on this Xiaflex sBLA. General expectations for AUXL's stock price are slightly on the negative side, trending in the $15-20$'s, judging by a few votes on this poll.

Here is what AUXL looks like right now: 






According to a recent press release by Auxilium: 
Highlights of the data presented related to the use of XIAFLEX in PD include:
  • An open-label baseline analysis from IMPRESS 3 showed a mean penile curvature deformity (PCD) of 53.0 degrees and a mean PD symptom bother score of 7.3. In this study, both co-primary endpoints of change in PCD and PD symptom bother were met with statistical significance compared to baseline. The mean percent change in PCD was 34.4 percent and the mean change in PD symptom bother score was 3.3 from baseline. 
  • An additional poster examined different subgroups of men treated with XIAFLEX based on their prior PD treatment, erectile dysfunction scores and prostatectomy history. The clinical outcomes related to PCD and PD bother did not vary among these subgroups. 
  • A third presentation of the Phase 3 data compared adverse events related to XIAFLEX injections among men with a curvature greater than or equal to 30 degrees versus lesser than 30 degrees, and concluded that there was no clinically meaningful difference.
Yesterday Moody's Investors Service downgraded AUXL from "stable" to "negative" outlook,  mostly related to Auxilium's marketed drug Testim. We are still hoping for positive news today!

Sunday 1 December 2013

Auxilium Pharma (AUXL) stock still riding the wave of Xiaflex sBLA approval expectation on December 6



Date of FDA Decision (PDUFA): December 6, 2013
Company name: Auxilium Pharmaceuticals & Biospecifics Technologies
Stock tickerAUXL and BSTC
Location: Malvern, Pennsylvania
Type of applicationSupplemental BLA – novel indication
Name of drug: Xiaflex (Collagenase clostridium histolyticum)
Indication: Peyronie's Disease

Auxilium Pharmaceuticals' Xiaflex (Collagenase clostridium histolyticum or CCH) for the treatment of Peyronie's disease is due to receive an FDA verdict on Dec 6th, 2013, and judging by the company's stock behavior, the public (as well as analysts) remain hopeful about the biologic's approval. 

Xiaflex's PDUFA date recently faced a 3-month FDA delay, caused by new information Auxilium presented for review. 

On November 23 the company also released additional results from Xiaflex's Phase III IMPRESS (The Investigation for Maximal Peyronie's Reduction Efficacy and Safety Studies) trial, presented at the 19th Annual Fall Scientific Meeting of the Sexual Medicine Society of North America (SMSNA) in New Orleans. 

According to a recent press release by the company:

Highlights of the data presented related to the use of XIAFLEX in PD include:
  • An open-label baseline analysis from IMPRESS 3 showed a mean penile curvature deformity (PCD) of 53.0 degrees and a mean PD symptom bother score of 7.3. In this study, both co-primary endpoints of change in PCD and PD symptom bother were met with statistical significance compared to baseline. The mean percent change in PCD was 34.4 percent and the mean change in PD symptom bother score was 3.3 from baseline. 
  • An additional poster examined different subgroups of men treated with XIAFLEX based on their prior PD treatment, erectile dysfunction scores and prostatectomy history. The clinical outcomes related to PCD and PD bother did not vary among these subgroups. 
  • A third presentation of the Phase 3 data compared adverse events related to XIAFLEX injections among men with a curvature greater than or equal to 30 degrees versus lesser than 30 degrees, and concluded that there was no clinically meaningful difference.
Auxilium's share price gained a dollar on the news and continues to climb up to the scheduled PDUFA date of December 6. 



Tuesday 12 November 2013

Pre-AdCom FDA report slams Lemtrada, crashes Sanofi CVR stock over weekend

An FDA report released over the weekend on the eve of Lemtrada's AdCom hearing has unearthed serious and potentially fatal safety concerns with Sanofi's MS drug. The milestone-dependent CVR stock GCVRZ Sanofi established during an acquisition dispute with Genzyme near-collapsed on the news:



Read the full article, "Report slams Genzyme’s MS drug on eve of hearing" here

Thursday 7 November 2013

Upcoming FDA Advisory Committee (AdCom) meeting: Nov 13, 2013 - Sanofi (Genzyme) - Lemtrada (Alemtuzumab) for the treatment of Multiple Sclerosis



Developer company name:
Genzyme, now Sanofi (NYSE:SNY
Indication:
Relapsing Multiple Sclerosis
Drug:
Lemtrada (Alemtuzumab)
Scheduled FDA AdCom date:
Nov 13 2013
Scheduled FDA PDUFA date:
Q4 2013
Type of application:
Supplemental BLA (sBLA); first submission for this indication

Sanofi (NYSE:SNY) is awaiting an FDA Advisory Committee meeting on Nov 13 2013 which will focus on the company's NDA for Lemtrada (alemtuzumab) indicated for Relapsing Multiple Sclerosis.

Alemtuzumab is a humanized monoclonal antibody already approved for the treatment of of chronic lymphocytic leukemia (CLL), cutaneous T-cell lymphoma (CTCL) and T-cell lymphoma under the trade name Campath.

In 2012 Sanofi permanently pulled all stocks of Campath off the shelves in anticipation of the market release of the higher-priced Lemtrada (MS patients require a fraction of the CLL drug, which would see Campath sell at 1/10 of its 60,000 annual cost if it stayed on the shelves and was mis-prescribed). Lemtrada is expected to rake in nearly 8 times more than the $76-million-a-year Campath.




Sanofi acquired alemtuzumab in February 2011 as part of its acquisition of Genzyme. At the time the two companies disagreed on the perceived value of alemtuzumab, with Sanofi valuing it at $700 million, against Genzyme's $3.5 billion. The dispute resulted in the issuance of Contingent Value Rights (CVR) - a type of stock warrant which pays a dividend only if certain conditions relating to Lemtrada FDA approval are met. The CVR securities now trading on the NASDAQ-GM market with the ticker symbol GCVRZ. 

The milestones achieved by Lemtada will trigger a dividend payout of $1 - $4:
Event
Payout
Timing
FDA Approval
$1
2H2013
Sales over $400mil
$2
2014
Sales over $1.8 bil
$3
Anytime until 2020
Sales over $2.3 bil
$4
Anytime until 2020
Sales over $2.8 bil
$3
Anytime until 2020
Total
$14

Source

Although positive outcome of Lemtrada's AdCom on Nov 13 may not significantly move Sanofi's stock, the CVR stock will react heavily. Based on preliminary clinical trials results, and on the fact that Sanofi is so certain of approval it withdrew all other alemtuzumab brands off the shelves, the AdCom meeting is likely to end on a positive note for the company.


Drop us a line if you'd like to find out more about how to invest around FDA calendar events!

Wednesday 23 October 2013

Upcoming FDA PDUFA: Auxilium Pharmaceuticals + Biospecifics Technologies - Xiaflex (collagenase clostridium histolyticum) - Peyronie's Disease

Auxilium Pharmaceuticals and Biospecifics Technologies announced a three-month FDA PDUFA date delay since the initial scheduled date of Sept 6, 2013. The next PDUFA date for Xiaflex's supplemental biologics license application (sBLA) for the treatment of Peyronie's disease is December 6, 2013. 

The delay was caused by the company, rather than by the FDA, and is related to changes made by Auxilium in relation to proposed Risk Evaluation and Mitigation Strategy (REMS) program and other aspects related to the proposed label. The changes were classified as a major amendment by the FDA, causing the delay in the scheduled PDUFA date. The FDA has not requested any additional clinical trials or information at this time. 




Date of FDA Decision (PDUFA): December 6, 2013
Company name: Auxilium Pharmaceuticals & Biospecifics Technologies
Stock tickerAUXL and BSTC
LocationMalvern, Pennsylvania
Type of applicationSupplemental BLA – novel indication
Name of drug: Xiaflex (Collagenase clostridium histolyticum)
Indication: Peyronie's Disease

23rd October 2013:
Auxilium Pharma:
Market Cap
$851.28 Mln
52-week range
13.87 – 21.60
Avg. volume
851,374

Q2 2013:
Net Income
$0.22 per share
Cash
$74.6 mln


Biospecifics Technologies:
Market Cap
$116.95 Mln
52-week range
12.52 - 19.99
Avg. volume
24,868

Q1 2013:
Net Income
$0.15 per share
Cash
$12.0 mln


Auxilium is an unmet niche specialist addressing rare and orphan diseases, mainly through biopharmaceuticals.  Auxilium has two products on the market and three currently in clinical development; all products in the Auxilium’s pipeline are for different indications of the same product – Xiaflex (collagenase clostridium histolyticum).

Auxilium Pharmaceuticals: Clinical Pipeline
Note: The Xiaflex Cellulite Study has recently entered phase 2a

Collagenase clostridium histolyticum is an enzyme produced by the bacterium Clostridium histolyticum that dismantles collagen. It is marketed and is being developed as a local injection into areas with overly high collagen accumulation, such as in the case of Dupuytren’s disease (severely clenched fingers) and Peyronie’s disease (penile curvature)—a connective tissue disorder involving the growth of fibrous plaques in the soft tissue of the penis affecting up to 10% of men. According to Auxilium, 65,000 to 120,000 new patients are diagnosed with Peyronie’s disease each year. Peyronie’s disease causes pain, abnormal curvature, erectile dysfunction, indentation, loss of girth and shortening, with no effective treatment to date. Xiaflex has already demonstrated efficacy in treating Peyronie’s disease in clinical trials, and, if approved, will be the first non-surgical treatment for the indication.

In two 400-patient trials Xiaflex was injected into the penile plaque over a period of several months. The company reported in a press release that the treatment yielded a 37.6 reduction in penile curvature in one trial and a 30.5% reduction in the second. The average deformity of the penis at the beginning of the study was 48.8 degrees in men receiving the drug and 49 degrees in those receiving placebo. After 52 weeks, the deformity was only 31 degrees in men receiving Xiaflex and 39 degrees in those receiving placebo. Although the results are not overwhelming, Xiaflex is the only available treatment currently in the pipeline, thus an automatic improvement over what is currently available.

According to the Auxilium company website, "During the course of recent product label discussions, Auxilium submitted revisions regarding the Company's proposed Risk Evaluation and Mitigation Strategy (REMS) program and other aspects related to the proposed label. The FDA determined that this submission qualified as a major amendment filed during the final three months of the review and extended the PDUFA goal date to December 6, 2013. The FDA has not requested that any additional clinical studies be performed prior to the revised PDUFA action date."

Xiaflex was developed by BioSpecifics Technologies, but its clinical trials were carried out by Auxilium. Along with Pfizer Auxilium is also responsible for Xiaflex’s marketing.

Friday 4 October 2013

Ligand and Pfizer's Aprela (Duavee) approved despite government shutdown, Ligand stock up 10% intraday


The FDA kept its promise on delivering a verdict for Ligand (LGND) and Pfizer's (PFE) Aprela on Oct 3, 2013. The drug was approved despite low expectations.

Aprela (now known as Duavee) is a novel combination drug of Bazedoxifene and Conjugated estrogens (Premarin) for the treatment of moderate-to-severe vasomotor symptoms (VMS) and vulvar and vaginal atrophy (VVA) associated with menopause, as well as the prevention of postmenopausal osteoporosis in non-hysterectomized women.

The drug was approved amidst low hopes and safety speculations. Pfizer has previously struggled with gaining approval of bazedoxifene on its own, having had the drug previously rejected by the FDA. The new combination, however, includes conjugated estrogens isolated from pregnant mares' urine, sold under the name Premarin since 1942 indicated for hormone replacement therapy.

The drug may have a hard time appealing to physicians, particularly as non-hormonal competitors indicated for hot flushes have recently reached the market - OKed Hisamitsu Pharmaceutical's Brisdelle was approved by the FDA in June.

Ligand's stock gained nearly 10% on the news on Oct 3rd.



Government Shutdown May Delay FDA AdCom, PDUFA dates and Stock Catalysts

Advisory committee (Adcom) and Prescription Drug User Fee Act (PDUFA) drug approval dates may face unpredictable delays due to government shortages affecting the FDA. Several drugs are/were scheduled to receive FDA decisions in October 2013 but have so far not heard from the agency on whether their applications are being processed and whether their decision dates have been affected.

On Oct 3, 2013, Ligand Pharma and Pfizer did not hear from the FDA concerning the agency's decision on Aprela/ Duavive (bazedoxifene) for the treatment of moderate-to-severe vasomotor symptoms (VMS) and vulvar and vaginal atrophy (VVA) associated with menopause, as well as the prevention of postmenopausal osteoporosis in non-hysterectomized women. Several more drugs are in the queue for October's PDUFA decisions:

Oct 3
Ligand Pharmaceuticals (LGND); Pfizer (PFE)
Duavive (EU); Aprela
Bazedoxifene/Conjugated estrogens (BZA/CE)

Moderate-to-severe vasomotor symptoms (VMS) and vulvar and vaginal atrophy (VVA) associated with menopause, as well as the prevention of postmenopausal osteoporosis in non-hysterectomized women
Oct 14
Antares Pharma (ATRS)
Otrexup
Methotrexate (combination product for use with Medi-Jet™ technology)
Rheumatoid arthritis (RA), poly-articular-course juvenile RA and moderate to severe psoriasis
Oct 17
Alimera Sciences (ALIM),
pSivida Corp (PSVD)
Iluvien
Fluocinolone acetonide intravitreal insert
Diabetic Macular Edema (DME)
Oct 21
Amag Pharmaceuticals (AMAG)
Feraheme (supplemental NDA – new formulation)
Ferumoxytol
Intravenous administration for Iron Deficiency Anemia Patients Who Cannot Take Oral Iron
Dec 18
Theravance (THRX), GlaxoSmithKline (GSK)
Anoro Ellipta
Umeclidinium bromide and vilanterol
Chronic Obstructive Pulmonary Disorder (COPD)
Dec 20
Amarin Corp (AMRN)
Vascepa (supplemental NDA)
Icosapent ethyl
Cardiovascular disease – triglyceride reducer during diet for adult patients with high triglycerides (TG ≥200 mg/dL and < 500 mg/dL) with mixed dyslipidemia

Until the FDA makes specific announcements, the investors are likely to be kept in the dark about October's PDUFA decisions. Delays are also likely to cause bottlenecks in the approval process and may delay the rest of the PDUFA calendar. 

To re-cap: 

Oct 3, 2013: Ligand Pharmaceuticals and Pfizer - Aprela (bazedoxifene and conjugated equine estrogens (Premarin)) - moderate-to-severe vasomotor symptoms (VMS) and vulvar and vaginal atrophy (VVA) associated with menopause, as well as the prevention of postmenopausal osteoporosis in non-hysterectomized women

Ligand is a biopharmaceutical company that develops and acquires assets it believes will generate royalty revenues and produce sustainable profitability. Ligand has a diverse asset portfolio addressing the unmet medical needs of patients for a broad spectrum of diseases including thrombocytopenia, multiple myeloma, diabetes, hepatitis, muscle wasting, dyslipidemia, anemia, and osteoporosis. Ligand has established multiple alliances with the world's leading pharmaceutical companies including GlaxoSmithKline, Merck, Pfizer, Eli Lilly & Company, Baxter International, Bristol-Myers Squibb, Celgene, Onyx Pharmaceuticals, Lundbeck Inc., and The Medicines Company, among others.

As a result of a series of successful licensing agreements, Ligand’s total revenue more than doubled in recent years, with royalties up 90% on higher sales of GlaxoSmithKline’s Promacta® and a contribution from Onyx Pharmaceuticals’ Kyprolis™, plus increases of 131% and 125% in sales and licensing revenues of Ligand’s proprietary patented drug delivery technology Captisol.

Aprela is a drug which combines Pfizer’s as-of-yet-unapproved drug Viviant (bazedoxifene), initially developed by Ligand and Wyeth (now Pfizer) in 1994 and Premarin, Pfizer’s conjugated estrogen compound. Bazedoxifene is a selective estrogen receptor modulator, which is a compound able to selectively act on estrogen receptors throughout the body. Aprela belongs to the novel class of tissue-selective estrogen complexes (TSECs), which pair SERM with conjugated estrogen (Premarin). So far, the combination drug has demonstrated positive efficacy and safety results in a series of Phase III clinical trials involving approximately 7,500 women.

The FDA accepted an NDA from Pfizer and Ligand in December 2012. The agency will deliver its verdict on Oct 3, 2013, but complications are expected, in light of the fact that bazedoxifene has been encountering obstacles with FDA approval since 2007.
  

Oct 14, 2013: – Antares pharma Otrexup (Methotrexate - combination product for use with Medi-Jet™ self-injection technology)- Rheumatoid arthritis (RA), poly-articular-course juvenile RA and moderate to severe psoriasis

Antares Pharma is a developer of parenteral technologies, specializing in self-injectable drug delivery. Among the company’s proprietary products are Jet-injectors, Auto-injectors and Pen injectors which can be used with a wide array of oral and injectable medications. Among the companies to which Antares has licensed its technologies are Pfizer, Teva and Jazz Pharmaceuticals. Teva is Antares’s largest source of revenue, having licensed three technologies from the company.

Although Antares normally engages in risk-diluting partnerships with Big Pharma, it is developing Otrexup (methotrexate) on its own. Methotrexate is a rheumatoid arthritis (RA) drug used in 70% of 1.3 million RA cases in the US. Commonly, the drug is taken orally, but complications exist with this mode of delivery, namely poor absorption and gastrointestinal side effects.  A self-injectable formulation of methotrexate would lower the necessary dosage of the drug, and reduce side effects. In clinical studies, Antares found that 98% of patients found the self-injectable system easy to use. In addition to RA, the company intends to market Otrexup for moderate to severe psoriasis, an autoimmune skin pigmentation disorder, for which methotrexane is also commonly prescribed. The global psoriasis market was worth US$ 3.9 billion in 2010.

Oct 17, 2013: Alimera Sciences (ALIM) + Psivida Corp (PSVD) Iluvien (Fluocinolone acetonide intravitreal insert) - Diabetic Macular Edema (DME)

Alimera Sciences specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. The company’s main focus is on diseases affecting the retina. pSivida corp specializes in developing sustained-release drug delivery systems and licensing them out. Iluvien is currently licensed out by pSivida to Alimera.

Iluvien (fluocinolone acetodine (FAc)) is a sustained-release eye implant which delivers a corticosteroid (anti-inflammatory agent) to the eye for up to 36 months. Iluvien is indicated for Diabetic Macular Edema (DME) – a diabetes-related disorder characterized by fluid and protein deposits on or under the macula of the eye (a yellow central area of the retina), causing it to thicken and swell (edema). The swelling may distort a person's central vision. Alimera has conducted two Phase 3 pivotal clinical trials (collectively known as the FAME Study) for Iluvien involving 956 patients in sites across the United States, Canada, Europe and India to assess the efficacy and safety of Iluvien with two doses, a high and low dose, in the treatment of diabetic macular edema. 

Although Alimera already obtained marketing approval of Iluvien in Austria, France, Germany, Portugal, Spain and the United Kingdom, and is going through the national phase in the approval process in Italy, the FDA has so far refused to grant Iluvien marketing approval, stating that “the NDA did not provide sufficient data to support that Iluvien is safe and effective in the treatment of patients with DME. The FDA stated that the risks of adverse reactions shown for Iluvien in the FAME® Study were significant and were not offset by the benefits demonstrated by Iluvien in these clinical trials. The FDA stated that Alimera will need to conduct two additional clinical trials to demonstrate that the product is safe and effective for the proposed indication.”[i]
The third PDUFA date for Iluvien is anticipated on Oct. 17th, 2013.

Tuesday 1 October 2013

Upcoming FDA PDUFA: Oct 14 2013 - Antares Pharma - Otrexup for Rheumatoid arthritis (RA), poly-articular-course juvenile RA and moderate to severe psoriasis

Antares Pharma (ATRS) is awaiting an FDA approval decision on Oct 14 2013 for Otrexup (Methotrexate - combination product for use with Medi-Jet™ self-injection technology) for the treatment of Rheumatoid arthritis (RA), poly-articular-course juvenile RA and moderate to severe psoriasis. 


Date of FDA Decision (PDUFA): October 3, 2013

Company name: Antares Pharma
Stock ticker(ATRS)
Location: Ewing, NJ
Type of application: First Submission; combination of previously approved drug with novel self-injection technology
Indication: Rheumatoid arthritis (RA), poly-articular-course juvenile RA and moderate to severe psoriasis



01 Oct 2013:
Market Cap
$516.26 Mln
52-week range
3.35 – 4.67
Avg. volume
926,105
Q2 2013:
Net loss
$0.02 per share
Cash
$75.0 mln


Antares Pharma is a developer of parenteral technologies, specializing in self-injectable drug delivery. Among the company’s proprietary products are Jet-injectors, Auto-injectors and Pen injectors which can be used with a wide array of oral and injectable medications. Among the companies to which Antares has licensed its technologies are Pfizer, Teva and Jazz Pharmaceuticals. Teva is Antares’s largest source of revenue, having licensed three technologies from the company.


Although Antares normally engages in risk-diluting partnerships with Big Pharma, it is developing Otrexup (methotrexate) on its own. Methotrexate is a rheumatoid arthritis (RA) drug used in 70% of 1.3 million RA cases in the US. Commonly, the drug is taken orally, but complications exist with this mode of delivery, namely poor absorption and gastrointestinal side effects.  A self-injectable formulation of methotrexate would lower the necessary dosage of the drug, and reduce side effects. In clinical studies, Antares found that 98% of patients found the self-injectable system easy to use. In addition to RA, the company intends to market Otrexup for moderate to severe psoriasis, an autoimmune skin pigmentation disorder, for which methotrexane is also commonly prescribed. The global psoriasis market was worth US$ 3.9 billion in 2010.