Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Isis Pharmaceuticals , a developer of antisense drugs across a variety of diseases and disorders, jumped as much as 16% after the company reported positive early stage add-on results for ISIS-SMNrx for the treatment of spinal muscular atrophy (SMA) in children.
So what: According to an Isis press release, children with SMA who received the two highest doses of ISIS-SMNrx (6 mg and 9 mg) continued to show improvement in muscle function tests even after 14 months of a single injection of the drug. Specifically, most children in the 9 mg cohort demonstrated continuing improvement, with no children in the group showing performance declines. Isis also noted that it plans to report data from its ongoing early and mid-stage studies on type 1, 2, and 3 SMA later this year or early next year, and to begin phase 3 trials in early 2014 (assuming everything goes well in early and mid-stage studies).
Now what: Chalk up yet another positive study for Isis, which I've highlighted relentlessly over the past few months for its pipeline diversity (31 clinical and preclinical stage compounds) and 12 separate partnerships over a variety of diseases and disorders. I'd definitely say shareholders deserve to be excited about the enormity of these early stage results in treating childhood SMA, but I'd also keep in mind that we're still a bit away from having concrete mid-stage data and would reserve judgment on ISIS-SMNrx until that time. I would, though, definitely recommend adding Isis to your Watchlist.
A tried-and-true winning strategy
It's no secret that biotech stocks like Isis have been soaring recently, but the best investment strategy is to pick great companies and stick with them for the long term. The Motley Fool's free report "3 Stocks That Will Help You Retire Rich" not only shares stocks that could help you build long-term wealth, but also winning strategies that every investor should know. Click here to grab your free copy today.
The article Why Isis Pharmaceuticals Shares Popped originally appeared on Fool.com.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.