Needham & Company Maintains a 'Hold' on ISIS Pharmaceuticals (ISIS); Pipeline Progress Review – Long-Term, Early Stage Programs Are Encouraging

Needham & Company maintains a 'Hold' on ISIS Pharmaceuticals (NASDAQ: ISIS).

Needham analyst says, "Yesterday, ISIS reviewed recent, selected progress of four early and late-stage programs. We believe that mipomersen remains at
center stage, as we await the NDA submission by partner Genzyme/sanofi-aventis. Also, ISIS highlighted its satellite company Excaliard, preferred collaboration with Glaxo (NYSE: GSK) (Not/Rated), selective CRP program, and next generation PTP1B inhibitor. Mipomersen: Isis reviewed recent ACC data presentations, noting that there are now 4 Phase 3 trials demonstrating consistent efficacy of mipomersen in LDL reduction. The mipomersen package is sufficient for HoFH submission in the US with a likely 2H11 submission by partner Genzyme/sanofi-aventis (NYSE: SNY) (Not/Rated). Additional 12-month data are needed for a new trial in HeFH, which is still under negotiation with the FDA. The EU filing timeline remain unchanged, which will include HoFH and severe hypercholesterolemia in 2Q11."

For more ratings news on ISIS Pharmaceuticals click here and for the rating history of ISIS Pharmaceuticals click here.

Shares of ISIS Pharmaceuticals closed at $8.70 yesterday.

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