Human Genome Sciences Runs Into Lupus Concern (HGSI)

Posted in pre-market 
April 20th, 2010

Human Genome Sciences Inc. (NASDAQ: HGSI) is trading lower after it and GlaxoSmithKline (NYSE: GSK) announced topline 76-week results of the Phase III BLISS-76 trial of Benlysta in Systemic Lupus Erythematosus…  BENLYSTA already met its primary efficacy endpoint at Week 52 in both BLISS-52 and BLISS-76 studies in July and November 2009; at Week 76 in the BLISS-76 study, belimumab plus standard of care showed higher response rates….; BUT… this secondary endpoint did not reach statistical significance. Belimumab continued to be generally well tolerated with overall adverse event rates comparable between belimumab and placebo treatment groups.

UPDATE 9:22 AM EST: HGSI shares are down 8% at $28.95 on 2.2 million shares.

HGSI shares are lower on the secondary endpoint not being met. At 8:17 AM EST we have shares trading down about 5.5% at $29.75 on over 300,000 shares.

Please note, there may be some study leakage here.  Yesterday the stock was down almost $1.00 to $31.49 after being at $32.42 Friday and yesterday’s 4.054 million shares was the most active day since April 7.  The problem is that its partner NOVARTIS yesterday withdrew JOULFERON new drug application with the European Medicines Agency to treat hepatitis C.

Stay tuned.

JON OGG

Comments are closed

-->