Investors Wake Up To Success Of Idorsia Sleep Drug
Positive Phase III Data For Daridorexant
The Swiss biotech says that a late-stage trial of the dual orexin receptor antagonist daridorexant is the first study to demonstrate an insomnia product that can improve how the patient feels during the day, as well as aiding sleep at night.
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Public Company Edition: After an initial hit to valuations from COVID-19, massive amounts of money have been raised by drug developers, such as argenx with a $862.5m stock sale. However, only two IPOs launched in the US in May, including ADC with a $267m offering.
In the absence of head-to-head data, the results from a "matching-adjusted indirect comparison" suggest favorable efficacy of the German group's treatment for solid tumors that have a neurotrophic receptor tyrosine kinase gene fusion when compared with competitor Rozlytrek from Roche.
The Swiss group has delivered on its promise to secure more deals in the nephrology space by bagging the rights in Europe, Australia and New Zealand to sparsentan, which is deep into a Phase III program for focal segmental glomerulosclerosis and IgA nephropathy.