Furiex Pharmaceuticals, Inc.NASDAQ
Oct. 21, 2014, 10:11 AM
- At the American College of Gastroenterology Annual Scientific Meeting, Synergy Pharmaceuticals (SGYP +6.6%) presented data from a 423-patient Phase 2b dose-ranging study assessing the safety and efficacy of plecanatide in patients with irritable bowel syndrome with constipation (IBS-C).
- Patients taking 3.0 mg and 9.0 mg plecanatide showed statistically significant improvement in Overall Responder rate (41.9% and 40%, respectively vs. 24.7% for placebo), a secondary analysis in the study and the endpoint required for FDA approval for the IBS-C indication.
- The primary efficacy endpoint was the change from baseline in the mean number of complete spontaneous bowel movements (CSBMs) per week over the 12-week treatment period. Secondary endpoints included abdominal pain intensity, stool consistency, Overall Responder %, abdominal pain responder %, stool consistency as measured by the Bristol Stool Form Scale, and abdominal pain intensity measured on a scale from 0 - 10. An Overall Responder was a patient that fulfilled both >30% reduction in worst abdominal pain and an increase of at least one CSBM from baseline in the same week for at least 50% of the weeks.
- The company expects to initiate a Phase 3 trial for plecanatide in IBS-C this quarter.
- IBS-related tickers: (ARDX +3.9%)(ACT +1.4%)(IRWD +0.8%)(SLXP -0.3%)(FURX -1.1%)(LXRX +0.8%)
May 7, 2014, 4:53 PM
- Furiex Pharmaceuticals, Inc. (FURX): Q1 EPS of -$1.25 misses by $0.86.
- Revenue of $6.4M (-83.7% Y/Y) misses by $3.61M.
May 6, 2014, 5:35 PM
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Apr. 28, 2014, 12:48 PM
Apr. 28, 2014, 9:15 AM
Apr. 28, 2014, 8:27 AM
- Forest Labs (FRX) acquires Furiex Pharmaceuticals (FURX) for $95/share ($1.1B) in cash and up to $30/share in a Contingent Value Right (CVR) payable on the regulatory approval of eluxadoline.
- Forest will divest Furiex's royalties on alogliptin and Priligy to Royalty Pharma for $415M which will reduce its purchase price by ~$315M (after tax).
- Furiex shares are up 26% premarket on robust volume.
Apr. 28, 2014, 7:58 AM
- Forest Laboratories (FRX) has agreed to acquire Furiex Pharmaceuticals (FURX) for $1.1B in cash in a deal that Forest says will enable it to strengthen its position in Gastroenterology.
- Forest, which is being bought by Actavis (ACT) is offering $95 a share vs Furiex's close of $80.15 on Friday.
- Forest has also proposed up to $30 a share ($360M) in a Contingent Value Right (CVR) that may be payable based on the status of eluxadoline, Furiex's lead product, as a controlled drug following approval
- Forest has also agreed to sell Furiex's royalties on alogliptin and Priligy to Royalty Pharma for $415M once Forest has bought Furiex.
- Furiex's shares are +28.51%. (PR)
Mar. 11, 2014, 5:41 PM
Mar. 11, 2014, 4:52 PM
- Furiex Pharmaceuticals, Inc. (FURX): Q4 EPS of -$0.63 beats by $0.42.
- Revenue of $9.21M (flat Y/Y) misses by $3.59M.
Mar. 11, 2014, 12:10 AM
Mar. 10, 2014, 5:35 PM
Feb. 27, 2014, 6:59 PM
- When it comes to momentum stocks, Tesla is a pipsqueak compared to Intercept Pharmaceutics (ICPT), whose shares are +523% YTD, by far the top performing component in the Russell 2000; the second biggest gainer is Furiex Pharmaceuticals (FURX) up a piddling 132%.
- Shares went parabolic in early January on positive news related to its liver-disease therapy and then came back to earth, but they have been climbing higher in recent weeks; ICPT retook $400 yesterday and the rally continued today, with the stock jumping another 5%.
- ICPT has 45 employees and no products on the market, but its market cap is now ~$8.2B.
Feb. 19, 2014, 12:11 PM| Feb. 19, 2014, 12:11 PM
Feb. 4, 2014, 3:51 PM
- Ladenburg Thalmann hikes its price target for Furiex Pharmaceuticals (FURX +127.8%) to $137 from $57 after the drug developer's Eluxadoline experimental drug to treat a form of irritable bowel syndrome met main goals in a late-stage study.
- Alogliptin, now approved in the U.S., Japan and Europe, represents another valuable asset, the firm says, expecting U.S. and E.U. revenues will start to impact the level of royalty revenues FURX receives during 2014; the company is entitled to tiered royalties of 8%-12% and 4%-8% in the U.S. and Europe/Japan, respectively (Briefing.com).
- Mizuho does not consider positive data yesterday for FURX as a negative for Salix Pharma's (SLXP +2.5%) Xifaxan; a large population means room for two products, and different MOA and response rates mean variable patient responses, it says.
Feb. 4, 2014, 9:11 AM
Feb. 4, 2014, 7:43 AM
- Furiex Pharmaceuticals' (FURX) Eluxadoline treatment for diarrhea-predominant irritable bowel syndrome (IBS-d) met the goals of two Phase III trials by improving stool consistency and relieving abdominal pain.
- Furiex now plans to apply for FDA approval of Eluxadoline by the middle of the year and for EU authorization in early 2015.
- IBS-d affects 28M people in the U.S. and major European markets. Furiex founder and chairman Fred Eshelman reckons the drug could bring in annual sales of $750M-$1B.
- Eshelman has sparked buyout talk by saying that the company would launch the drug itself "if we don't get offers." However, the firm would have to raise money.
- Shares +78%. (PR)