The price of Oryzon Genomics soars this Monday after presenting the results of its treatment against leukemia, which shows an efficacy of up to 85% in patients. The titles of the biopharmaceutical stand at 2.77 euros after registering a rise of 5.11%.
Oryzon explains in a statement sent to the National Securities Market Commission (CNMV) that this Sunday he presented the new data from phase IIa of the trial with iadademstat in acute myeloid leukemia at the 62nd Congress of the American Association.
“The evidence for clinical efficacy continues to be strong and consistent with previously reported data, with an objective response rate (ORR) of 85%, 11 of 13 evaluable patients,” the company details in the text.
Of these patients, 64% were complete remissions and 36% partial, with a mean response time of 34 days. For some treatments using only the drug azacitidine, the “historic” response rate is 27%. “These results suggest a strong synergy between iadademstat and azacitidine when used in combination,” adds Oryzon.
The duration of observed responses is “long”, with 86% of evaluable patients older than 6 months with a current median of 308 days. The longest remission detected is more than doubled, “690 days and still on.”
“Another patient who was treated for only 20 weeks also achieved complete remissions and became independent of transfusions for a total of 77 weeks,” explains Oryzon, who points out that a third patient had also reached this phase but died of Covid-19.
The results therefore suggest that the two doses of iadademstat have an efficacy of 85% – 90 micrograms – and 83%, 60 micrograms. “These are undoubtedly very positive results, we continue to see a very robust percentage of responses that continue to compare well with approved therapies,” says Carlos Buesa , CEO of Oryzon, in the note.
Oryzon, target 8 euros in 2021
Analysts predict that the pharmaceutical company shares would appreciate more than 400% compared to its current price for next year. The consensus gathered by Bloomberg gives it a 12-month price target of 8.62 euros per share, in addition to a potential return above 202%.
Despite not being a value very often, it has the unanimity of analysts (5) leaning towards buying shares. This Monday, the first day after the announcement of the effectiveness of the treatment, analysts from the firm Jeffries modified their position towards the purchase, giving it a target price of 6.50 euros.