Myovant: Drops on 'unimpressive' efficacy data on uterine fibroid therapy

Obseva SA

14/05/2019 17:45

** Shares of Myovant Sciences Ltd  MYOV.N  drop 26% to near
1-1/2 yr low of $12.6
    ** Co's combo therapy for uterine fibroids meets main goal
and 6 key secondary goals in the first of 2 late stage trials
    ** However, MYOV's treatment showed a lower placebo-adjusted
response rate of 54.5% vs the 59.8%-66.1% rate seen in trials
conducted by AbbVie  ABBV.N  and Neurocrine Biosciences
 NBIX.O , notes SVB Leerink
    ** ABBV and NBIX are testing a similar combination
treatment, consisting of ABBV's Orilissa, for the condition
    ** MYOV's therapy showed slightly better preservation of
bone mineral density, but this alone is unlikely to be enough to
drive sales as physicians are looking for a more potent option -
Leerink
    ** Sees the harsh market reaction to MYOV's data as a
positive for Obseva SA  OBSV.O , which is expected to report
late-stage trials for its uterine fibroid therapy in late 2019
or early 2020
    ** MYOV expects to release data from 2nd late-stage trial in
Q3 2019
    ** OBSV up 4%; NBIX and ABBV up 2%
    ** Including Tuesday's losses, MYOV down ~23% so far this
year


 (Reporting by Saumya Sibi Joseph in Bengaluru)
 ((Reuters Messaging:
saumya.joseph.thomsonreuters.com@reuters.net))