• News
  • SAN DIEGO
  • BioTech

FDA gives Isis green light for cholesterol drug

The U.S. Food and Drug Administration has approved a new cholesterol treatment from Carlsbad’s Isis Pharmaceuticals (Nasdaq: ISIS) and its French partner Genzyme, clearing the path for Isis' first drug to reach market.

The drug, Kynamro, is an injectable drug designed to treat patients who are genetically predisposed to have high levels of LDL cholesterol, known as the "bad" cholesterol. The drug has been approved for use as an adjunct for other cholesterol-lowering medications.

Ironically, the approval came just two trading days after CNBC commentator Jim Cramer advised investors to sell the stock, which had a closing price of $13.46 on Friday.

"Let's stay away from Isis right now," Cramer said. "You can buy it cheaper later. There's going to be some disappointment."

The FDA announcement came after the end of the official trading day, but in after-hours trading, Isis share prices shot up $1.03, or 7.7 percent, to $14.41.

Isis will hold a conference call at 6:30 a.m. Pacific time on Wednesday -- half an hour before the market opens in New York -- to discuss the impact of the decision.

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

Isis Pharmaceuticals Inc.

Company Website

1896 Rutherford Road
Carlsbad, CA 92008

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
ISIS
44.62
  0.68  
+ 1.55%
1,703,078,000
77.8
37.38

Insider Trade Data

Date Insider Shares Type Value
10/02/2015 Parshall, B Lynne 12,436 Sell $506,747
10/02/2015 Parshall, B Lynne 12,436 Exchange $151,720
10/02/2015 Parshall, B Lynne 12,436 Sell $506,747
10/02/2015 Parshall, B Lynne 12,436 Exchange $151,720
07/06/2015 Crooke, Stanley T 12,350 Sell $707,457

Isis Pharmaceuticals Inc. Executive(s):

Stanley Crooke

  • Chairman, Chief Executive Officer, Founder, President

Similar Companies

NAICS - 325414 - Biological Product (except Diagnostic) Manufacturing
Subscribe Today!