Earnings Bleak, BioMarin Scrambles To In-License
This article was originally published in The Pink Sheet Daily
Kuvan-launch mistakes and the Riquent fizzle take their toll, as company shops for workable assets.
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BioMarin’s licensing of the PARP inhibitor talazoparib to Medivation in August reduces BioMarin’s development expenses and helps it to meet its stated goal of being non-GAAP earnings positive in 2017. Medivation gets another compound it can develop in key oncology indications it is already pursuing with its core product, the prostate cancer drug Xtandi.
Data monitoring board says continuing ASPEN trial is “futile” after first interim look at BioMarin-licensed Riquent trial for treatment of lupus nephritis.
Firm corrects bad numbers for Kuvan new-patient starts ahead of early results with second – and maybe bigger – market player, PEG-PAL