The Antisense (ASX:ANP) share price is surging 7% today. Here's why

The Antisense (ASX: ANP) share price is up 7.5% after the company released a positive report regarding Phase II trials for one of its drugs.

| More on:
Medical staff wear hero capes, indicting strong shar [price performace for healthcare shares

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Antisense Therapeutics Limited (ASX: ANP) share price is surging today after the company released a positive report regarding Phase II trials for one of its drugs with the United States Food and Drug Administration (FDA).

The Antisense share price is up 7.5% at the time of writing, trading at 21.5 cents per share.

Antisense is an Australian publicly listed biotechnology company and drug manufacturer, developing and commercialising antisense pharmaceuticals for large unmet markets in rare diseases. 

Its products are in-licensed from a US-listed company, Ionis Pharmaceuticals, an established leader in antisense drug development. 

In medical parlance, antisense refers to drugs that inhibit the RNA strand of human DNA, preventing human genes from undertaking the purpose that they are genetically programmed to perform.

This is a particularly effective way of combatting serious genetic disorders, and in Antisense Therapeutics' case, it's currently tackling muscular dystrophy.

Antisense's FDA update

Today, Antisense advised that its guidance meeting with the FDA was held to discuss the further development of the company's trial drug, called ATL1102, in preventing Duchenne muscular dystrophy (DMD), in the US.

Antisense expects to provide further details about the meeting to its investors, after it receives the official minutes of the meeting from the FDA in late May 2021.

Antisense said the meeting was constructive and provided clarification on a path towards initiating a Phase IIb/III study in the US. Non-clinical requirements for trialling its drug is to be "further reviewed and agreed with the FDA to assess if and how they may impact on the timing of clinical study initiation".

The feedback will be reviewed by Antisense's internal team and incorporated into its global clinical development and commercialisation plans.

What management said

Antisense Therapeutics CEO Mark Diamond said Antisense was already acting on the meeting.

Based on the guidance meeting with the FDA, together with prior feedback from EMA and world-leading DMD experts, we are reassured that the data from our Phase II study is encouraging and that it is reasonable and appropriate to advance the program towards potentially pivotal clinical studies.

It is our goal to bring this medication to as many DMD patients worldwide as possible.

Antisense share price snapshot

The Antisense share price has been rising across the board, up 65% so far in 2021 and 347% higher over the past 12 months.

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Healthcare Shares

Woman looks amazed and shocked as she looks at her laptop.
Healthcare Shares

If you invested $5,000 in this ASX pharmaceuticals stock a year ago, you'd have $34,711 now!

Just how lucky have investors been with this stock?

Read more »

A doctor or medical expert in COVID protection adjusts her glasses, indicating growth or strong share price movement in ASX medical, biotech and health companies
Healthcare Shares

Should I buy CSL shares now for their 'steadily growing' dividends?

CSL has increased its interim and final dividend payouts for four years running now.

Read more »

Shot of a young scientist using a digital tablet while working in a lab.
Healthcare Shares

Guess which ASX healthcare stock is surging on big FDA news

The update is a critical milestone for the company.

Read more »

Scientist looking at a laptop thinking about the share price performance.
Healthcare Shares

Up 308% in 6 months, why is the Mesoblast share price tumbling today?

The Mesoblast share price is taking a tumble on Monday. But why?

Read more »

Three Archer Materials scientists wearing white coats and blue gloves dance together in their lab after making a discovery
Healthcare Shares

This ASX 200 med-tech stock has no debt, pays dividends and is growing at 30% per year!

This stock is delivering very healthy growth.

Read more »

a woman and a man sleep side by side with the woman placing a hand on the man's chest while he wears a sleep breathing machine.
Healthcare Shares

Do weight loss drugs pose a threat to ResMed shares?

It's a question being asked amongst investor circles in 2024.

Read more »

A young woman with her mouth open and her hands out showing surprise and delight as uranium share prices skyrocket
Healthcare Shares

Buy this high-flying ASX healthcare stock for market-beating returns

Bell Potter thinks this top stock could keep rising from where it trades today.

Read more »

Happy, tablet or doctor in a laboratory with research results or positive feedback after medical data analysis. Smile, vaccine or healthcare worker reading or working on futuristic science innovation.
Healthcare Shares

Telix share price hits record high on strong quarter and guidance upgrade

This market darling has continued to deliver stunning top line growth.

Read more »