Spinraza passes latest Phase III SMA test

Biogen Inc. (NASDAQ:BIIB) and Ionis Pharmaceuticals Inc. (NASDAQ:IONS) said Spinraza nusinersen met the primary endpoint of the Phase III CHERISH trial to treat later-onset spinal muscular atrophy. In an interim readout, the compound significantly improved motor function from baseline to 15 months compared to sham procedure, as measured by Hammersmith Functional Motor Scale-Expanded (HFMSE) scores.

Ionis rose $4.99 (18%) to $32.12 on Monday, while Biogen gained $18.62 to $295.62. An NDA for Spinraza is under Priority Review by FDA, and an MAA is under EMA review. Biogen, which has global rights to the candidate from Ionis, said it could launch the candidate this quarter or in 1Q17, pending approval...