The FDA has approved Olezarsen from Ionis Pharmaceuticals for the treatment of familial chylomicronemia syndrome (FCS).
According to Zhitong Finance APP, the U.S. Food and Drug Administration (FDA) has approved Olezarsen, a drug for rare genetic diseases from Ionis Pharmaceuticals (IONS.US), marking the company's first wholly-owned drug.
It is reported that Olezarsen has been approved for the treatment of familial chylomicronemia syndrome (FCS). Trial results released in April showed that for patients with moderate hypertriglyceridemia at high cardiovascular risk, Olezarsen can significantly reduce triglycerides, apolipoprotein B, and non-HDL cholesterol levels, with no major safety issues reported.
FCS is a serious and extremely rare genetic disease often caused by various single-gene mutations. FCS leads to extremely high triglyceride (TG) levels, usually exceeding 880 mg/dL. This severe elevation can cause various serious signs and symptoms, including acute and potentially fatal pancreatitis, chronic abdominal pain, diabetes, hepatic steatosis, and cognitive problems. Currently, there are very limited treatment options available for FCS, with a strict low-fat diet being the first-line method for treating this condition. Olezarsen has been approved as an additional treatment to lower triglyceride (TG) levels in adult patients.
Buoyed by this news, Ionis Pharmaceuticals's stock rose nearly 7% in Post-Market Trading on Thursday.
Ionis Pharmaceuticals stated that it will announce pricing details of the drug during an investor conference call. The company's CEO, Brett Monia, stated, "We believe there are no supply obstacles. We have produced and are ready." Brett Monia added that patients still need to adhere to the recommended dietary restrictions.
However, BMO Capital Markets Analyst Kostas Biliouris believes that given the low prevalence of FCS and the fact that competing drugs will enter the market in the second half of next year, FCS treatment drugs will not be a significant opportunity for Ionis Pharmaceuticals. According to U.S. government data, there are fewer than 5,000 people with FCS in the USA. Kostas Biliouris estimates that the sales of Ionis Pharmaceuticals's FCS treatment drug could reach up to $0.341 billion.