Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) has released data, compiled over a period of 2-years, from phase 2/3 trial studies of its drug Kanuma. The drug was targeted at an infant population, with lysosomal acid lipase deficiency (LAL-D). The data seems to be promising, as it reported a 56% survival benefit, in patients over 2-years of age, who earlier had a rapidly developing LAL-D. The disease is mainly genetic and is ultra-rare amongst infants.
Not only did Kanuma successfully extend the life of these patients, but in fact, the drug made them healthier as well. A total of 4 out 5 patients demonstrated normal development, in this regard. Alexion released this data during the 12th Annual World Symposium, which was held in San Diego. The company also released initial results, concerning patient safety, from an ongoing Kanuma trial in adults and children, with LAL-D.
The executive VP and head of global R&D at Alexion, Martin Mackay, explained that infants with LAL-D usually lack a vital-enzyme in their system. As a result, they suffer organ damage and a risk of death, as they grow older. He further clarified that this usually happens before the infants 1st birthday. However, the data from Kanuma studies show that some children were able to survive beyond 5-years of age. Kanuma is also expected to achieved the 2016 New Treatment award, for achieving regulatory approval in the US and EU.
Apart from making significant progress with Kanuma, the company also filed an 8-K, updating the public on its updated employment agreements. The list included the agreements with the CEO, David Hallal, Martin Mackay and Vikas Sinha, CFO at Alexion, amongst other executives. The agreements contain a three-year-term for the executives, with an automatic 1-year extension, if the company or the executives notifies the other prior to the end of the contract. Added to this, the contracts mark the end of provisions to the executives.
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) had a trade volume of 1.33 million and lost 3.79% of its share value, during the March 3 session, to reach a close at $145.85.