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Osiris (OSIR) drops after Sanofi discontinues P3 GvHD Program
OSIR down as much as 6.95% after Sanofi announced discontinuation of development of Prochymal in Graft-vs.-Host Disease (GvHD.
Link to Sanofi’s Year end results release, http://sanofi.mediaroom.com/index.php?s=43&item=351; Extracted below (dropped projects) is what they buried deep in their announcement.
- 2 projects in P1 (SAR101099 – an urotensin II receptor antagonist evaluated in diabetes nephropathy and SAR103168 – a Multi-Kinase Inhibitor in oncology), 3 projects in P2 (FOV2302 – a plasma kallikrein inhibitor evaluated in ophthalmology, a recombinant human TSH modified for Goiter, and ataluren- a transcription modulator evaluated in cystic fibrosis) and 1 project in P3 (prochymal – a mesenchymal stem cell evaluated for graft-versus-host disease) have been discontinued.
The Bottom Line: This is not a positive for the Regenerative Medicine although … some believes that if Sanofi pulls out of 1 indication, they pull out of them all. However, it could be positive if … OSIR receives … back … full rights to Prochymal. OSIR working to prepare BLA filing for Prochymal in US is developing Prochymal in refractory Crohn’s disease; acute heart attack … success in these endeavors will validate OSIR and the sector.
- OSIR is trading at $5.49, down -$0.41 <-6.95%>
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