AstraZeneca, Ionis plan to seek FDA approval for rare-disease therapy this year

U.S.-listed shares of AstraZeneca /zigman2/quotes/200304487/composite AZN +1.21% were up 2.5% in trading on Tuesday after the company said an experimental therapy for hereditary transthyretin-mediated amyloid polyneuropathy met its primary endpoints in a Phase 3 clinical trial. AstraZeneca is developing eplontersen with Ionis Pharmaceuticals Inc. /zigman2/quotes/201272020/composite IONS -0.68% ; shares in Ionis were up 5.1% on Tuesday. The rare disease can cause nerve damage and motor disability and affects about 40,000 people worldwide, the companies said. They also said they plan to seek Food and Drug Administration approval for eplontersen this year. AstraZeneca's stock has gained 7.5% so far this year, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX +0.16% is down 22.9%.

/zigman2/quotes/200304487/composite

Add to watchlist AZN

AstraZeneca PLC ADR

US : U.S.: Nasdaq

$ 68.73

+0.82 +1.21%

Volume: 5.75M

March 27, 2023 4:00p

P/E Ratio

65.15

Dividend Yield

2.07%

Market Cap

$209.97 billion

Rev. per Employee

$531,150

/zigman2/quotes/201272020/composite

Add to watchlist IONS

Ionis Pharmaceuticals Inc.

US : U.S.: Nasdaq

$ 33.72

-0.23 -0.68%

Volume: 1.10M

March 27, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$4.85 billion

Rev. per Employee

$737,898

/zigman2/quotes/210599714/realtime

Add to watchlist SPX

S&P 500 Index

US : S&P US

3,977.53

+6.54 +0.16%

Volume: 0.00

March 27, 2023 5:00p