Ionis Stock Dives On Novartis Gene Therapy Data, Roche Comments In Huntington's Disease - (Investor's Business Daily via NewsPoints Desk)

  • Shares in Ionis Pharmaceutical fell nearly 13 percent in response to competitive data from Novartis and apparently disappointing remarks from Roche in Huntington's disease, Investor's Business Daily reported Wednesday.

  • Earlier this week, Novartis' AveXis subsidiary released late-stage clinical data for the gene therapy Zolgensma in spinal muscular atrophy.

  • Zolgensma, which could be approved in the US next month, will compete directly with Biogen and Ionis' Spinraza.

  • Meanwhile, Roche, which has partnered with Ionis in the development of the investigational Huntington's disease drug RG6042, said it will not provide an update on the drug next month as previously expected.

  • The news comes as Wave Life Sciences disclosed earlier this month that results from its Huntington's disease study will not be available until the end of the year, as patient enrolment has stalled becaseu of logistics.

  • However, Ionis could benefit from a decision by the UK National Institute for Health and Care Excellence reversing its stance on the ATTR amyloidosis treatment Tegsedi, which the company developed together with Akcea Therapeutics.

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