Earlier this week, Isis Pharmaceuticals, Inc. (ISIS) reported positive top-line results on its type II diabetes candidate, ISIS-113715. Results from the phase II study showed consistent and statistically significant reductions in multiple short and intermediate measures of glucose control. Besides lowering blood glucose, the candidate also caused statistically significant and clinically meaningful reductions in low-density lipoprotein (LDL) cholesterol.   Importantly, a tendency towards weight loss was observed without strict dietary control. The candidate’s safety profile was favorable with no clinically significant adverse effects being observed. Full results will be presented at an upcoming medical meeting.   ISIS-113715 is a novel insulin sensitizer that reduces the expression of protein tyrosine phosphatase-1B (PTP-1B). The candidate’s ability to normalize glucose without exacerbating hypoglycemia, and reduce LDL-C levels and weight could provide patients who are obese and at high cardiovascular risk with a new treatment option.   ISIS-113715 has been developed using ...

Since bottoming near the end of 2008, ISIS Pharmaceuticals has been one of the hottest stocks in the first half of 2009. In fact, in just a few short months, the stock has exhibited all the tell tale signs of a powerful, interim trend reversal. More importantly, a look at ISIS’s 3-year weekly chart shows that despite a dramatic correction in 2008, the stock maintained its long term, continuum with a swift reversal off of its 200-week moving average (shown below).

Profound bullish action in the first half of 2009 culminated in the stock’s recent acceleration from $15/share to nearly $19/share in advance of earnings last week. Unfortunately, exuberance seems

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We are keeping our Buy rating and $22 price target on Isis Pharmaceuticals (ISIS). We are big fans of antisense technology and believe that the number of potential therapeutic applications is enormous. Antisense drugs may have significant potential to treat a number of diseases where small molecule and biologic compounds have failed.Although still early-stage, antisense technology as a platform for developing drugs reminds us greatly of the promise of biologic drugs over a decade ago. Potential mechanisms such as siRNA, RNAi, alternate splicing and micro RNA have the potential to change how we treat disease in the years to come.Isis is pioneering the effort into antisense research. The company has already commercialized the first antisense drug in 1998 with Vitravene. Isis has several proprietary compounds in clinical development as well as partnered programs with large pharmaceutical companies such as Glaxo (GSK), Bristol-Myers (...