Shares of Neurocrine Biosciences Inc. rose 11 percent Sept. 3
following positive mid-stage results for elagolix, a drug candidate
aimed at treating endometriosis.
Neurocrine shares, traded under the symbol NBIX on the Nasdaq,
jumped 57 cents to close at $5.81.
The company said patients who took the investigational drug for six
months experienced minimal bone and mineral loss. Patients also reported
reduced pain from endometriosis and less pelvic pain during menstruation
and otherwise.
Endometriosis is a condition characterized by the growth of tissue
outside the uterus. Patients often experience severe recurring pain.
In the study, patients were given 150 milligram oral doses of
elagolix once daily or 75 milligrams twice daily, or Pfizer Inc.'s
injectable contraceptive Depo-Provera. Patients taking the larger dose
of elagolix averaged a loss in density of 0.11 percent in the spine and
0.47 percent in the femur.
Those who took the drug twice a day had an average loss of 1.3
percent for the spine and 0.99 percent for the femur.
Based on the results, Neurocrine said it will continue studies of
the 150 milligram dose.
"We are encouraged by these results and believe that this data
could provide a much needed new lease on life for Neurocrine, as this
indication is potentially larger then the Indiplon insomnia opportunity
and could lead to a partnership next year," Thomas Weisel Partners
analyst M. Ian Somaiya told investors.
Indiplon is an experimental sleeping pill that FDA regulators
deemed "approvable" in 2006 pending further studies.
Send biotechnology news to Heather Chambers, hchambers@sdbj.com.
She can also be reached at 858-277-6359.
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