Shares of Amicus Drop (NASDAQ:FOLD)
Source: http://www.favstocks.com/shares-of-amicus-drop-nasdaqfold/061003/Posted on Tuesday, October 6th, 2009 | In Investing Lessons, Stocks to Watch
It was a downward slide for the Amicus Therapeutics on Monday when the drug company announced the failure of its drug candidate for Gaucher disease, an enzyme disorder. The shares of Amicus Therapeutics dropped considerably soon after the company came out with the disappointing news about the inefficiency of their drug named Plicera. The shares of Amicus dropped around $2.77, or 32.6 percent to $5.73 in the morning trading.
On Friday, Amicus Therapeutics came out with the news of the failure of their drug candidate Plicera and said that the drug did not appear to work for many patients in the midstage clinical trial as expected and so they had to come out with the sad news. Gaucher disease is an enzyme disorder that can harm the liver and cause neurological complications.
In the earlier studies it had been found that Plicera developed by Amicus Therapeutics was safe. However, Amicus has replied saying that so far only one patient had reacted positively to the drug and that does not provide enough data about the efficacy of Plicera. Few of the market analysts have speculated that they probably Amicus would walk away from their Gaucher program sooner or later. The analysts have said that Amicus has developed Plicera in a good way but they will not be able to develop it further and hence they feel that Amicus would not advance ahead with the development of Plicera from hereon.
After the failure of Plicera, Amigal remains the only late-stage asset with Amicus Therapeutics. Currently, Amigal is being tested as a treatment for Fabry disease, a kind of disorder in which the body lacks the ability to store some fats which can further lead to conditions like heart diseases and stroke. Amicus Therapeutics said that they will shortly come forward with more information about the development of Plicera.
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Amicus Therapeutics, Drug Candidate, enzyme disorder, Fabry disease, FavStocks, Gaucher disease;, heart diseases, Investing Lessons, Plicera, Stocks to Watch, stroke, treatment for Fabry disease, USD
 About Jyotsna Ramani (http://www.favstocks.com)
Joyotsna has completed Post Graduation in Tourism from College of Vocational Studies apart from a full time MBA degree in Finance. She has worked with several reputed companies including IBM. Currently, she is a SAHM, earning a living off trading in the stock market and forex. |
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