Isis up on Phase II hypertriglyceridemia data

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) jumped $6.43 (29%) to $28.42 on Monday after reporting that once-weekly subcutaneous ISIS-APOCIIIRx met the primary endpoint of reducing apolipoprotein C-III ( APOCIII; APOC3) levels from baseline to week 13 vs. placebo in a Phase II trial to treat hypertriglyceridemia (p<0.03). The move translates to a $722 million gain in market cap for a closing valuation of $3.2 billion. Specifically, ISIS-APOCIIIRx reduced APOCIII levels by 88% vs. placebo in 11 Type II diabetics with high triglyceride levels (200-500 mg/dL). Compared to placebo, ISIS-APOCIIIRx also significantly reduced fasting plasma triglyceride levels by 72% from baseline to week 13 (p<0.03) and increased HDL-C by 40% from baseline to week 13 (p<0.03). Additionally, all patients treated with ISIS-APOCIIIRx achieved triglyceride levels of <100 mg/dL by week 4 of treatment and an average triglyceride level of 71 mg/dL at week 13. Data were presented at the American Diabetes Association meeting in Chicago. ...