In a new report, analysts at JMP Securities focused on stocks and recent developments in the world of biotechnology. Overall, much of the sector has been under pressure recently from a negative market tone and “puzzling” Endocrinology and Metabolic Drug Advisory Committee (EMDAC) discussions.
EMDAC Commentary
JMP analyst Michael King, Jr. was surprised by some of the recent actions and statements made by the EMDAC. King described a perceived lack of consideration on the part of panelists when it came to some important issues.
“The explanations given by the FDA, specifically concerns over mixed studies of fibrates and the negative studies of CTEP inhibitors and niacin, strike us as disingenuous, at best,” King wrote.
The EMDAC sent Amgen, Inc. AMGN and the partnership of Sanofi SA (ADR) SNY and Regeneron Pharmaceuticals Inc REGN home with a recommendation in favor of all indications they sought, except for the largest one (patients with mixed dyslipidemia intolerant to statins).
King believes that this decision set a “negative tone” and has certainly influenced biotech stocks.
Other News
Recent news from the American Diabetes Association was…
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