- Bayer ( OTCPK:BAYZF ) ( OTCPK:BAYRY ) is returning the rights to fesomersen, a phase 2 candidate for patients with end-stage renal disease (ESRD) on hemodialysis, back to Ionis Pharmaceuticals ( NASDAQ: IONS ).
- Ionis ( IONS ) said it is working on finding a new partner for the asset.
- Ionis ( IONS ) shares are down 9% in Friday afternoon trading.
- Fesomersen is an antisense medicine designed to reduce the production of Factor XI ("FXI") for the prevention of thrombosis.
- Data on fesomersen just presented at Kidney Week showed the candidate met its primary endpoint, demonstrating no increase in the incidence of the composite of major bleeding and clinically relevant non-major bleeding with 24 weeks of treatment.
- Also, fesomersen led to dose-dependent and sustained median reductions in steady-state FXI levels.
- Read why Seeking Alpha contributor William Meyers argues that Ionis ( IONS ) is a long-term buy.
For further details see:
Ionis down 9% after Bayer returns rights to partnered kidney drug fesomersen