Ipsen Shares Rise After FDA Panel Backs Drug for Rare Bone Disease
By Adria Calatayud
Shares in Ipsen rose Thursday after the company said a U.S. Food and Drug Administration advisory committee voted in favor of palovarotene as a treatment for ultra-rare bone disease fibrodysplasia ossificans progressiva.
At 0737 GMT, shares in the French pharmaceutical company rose 3.4% at EUR109.80, having earlier risen as much as 6%.
Ipsen said then FDA panel voted 10-4 in favor of the drug as an effective treatment, and 11-3 in favor of considering that the drug's benefits outweigh its risks.
The FDA is currently reviewing a new-drug application for palovarotene and a decision is anticipated by Aug. 16, Ipsen said.
RBC analysts Alistair Campbell and Charles Weston said it now seems likely that the FDA will approve palovarotene in the U.S.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 29, 2023 03:56 ET (07:56 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Powell Unfazed By Sticky Inflation, but Rate Cuts Are Far Off
-
After Earnings, Is Microsoft Stock a Buy, a Sell, or Fairly Valued?
-
Best- and Worst-Performing Stocks of April 2024
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Small-Cap and Value Stocks Are Undervalued
-
Why We Expect the Job Market’s Slowdown to Renew in 2024
-
5 Undervalued Stocks to Buy to Play a Little Defense
-
10 Top-Performing Dividend Stocks of the Month
-
Marathon Petroleum Earnings: No Change to Competitive Position, but Shares Look Expensive
-
Charlie Munger and How Not to Invest
-
Look Inside Berkshire Hathaway’s Portfolio Before Its Annual Meeting
-
After Earnings, Is AT&T Stock a Buy, a Sell, or Fairly Valued?
-
Mastercard Earnings: A Stable Environment Highlights the Firm’s Strengths
-
Pfizer Earnings: Solid Results Supported by Steady Tracking Toward $4 Billion In Cost Cuts
-
Starbucks Earnings: Not a Lot to Like About Results as Global Traffic Sputters