BioMarin rises as analysts say rival Ascendis' dwarfism drug less effective

Ascendis Pharma A/S

14/11/2022 15:17

** Shares of biotech co BioMarin Pharmaceutical  BMRN.O  up
2.5% at $84.17 
    ** Late on Sunday, rival Ascendis Pharma  ASND.O  said its
dwarfism drug TransCon CNP met the main goal in a mid-stage
study and showed a greater increase in height of children
compared to placebo 
    ** Truist Securities says ASND's data did not meet the bar
of 50% improvement seen with BMRN's already-approved treatment
Voxzogo, expects Voxzogo's dominance to continue 
    ** Truist adds that ASND's data not as comprehensive as
BMRN's late-stage data, as statistically significant effect from
TransCon CNP was only seen at the highest dose out of the four
different doses being tested 
    ** Cowen and Company also agrees that ASND's mid-stage data
doesn't seem very competitive compared to BMRN's Voxzogo 
    ** Cowen adds that it is unlikely that rivals ASND and
BridgeBio  BBIO.O  will receive approval for growth height
disorder treatments under the U.S. health regulator's
accelerated approval pathway 
    ** BMRN's Voxzogo is an FDA-approved treatment for the most
common form of dwarfism known as achondroplasia in children five
years of age and older 
    ** As of last close, BMRN down nearly 7% and ASND down about
2% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))