Merrill Lynch neutral on CCR5 drugs

Merrill Lynch analyst David Munno said an FDA-sponsored HIV panel meeting highlighted significant safety concerns for HIV patients taking chemokine receptor 5 (CCR5) drugs, including higher rates of infection and malignancies (tumors). The agency suggested that five-year follow-up data may be necessary in post-marketing studies, but no consensus was reached on how to properly measure safety. In particular, malignancies seen with Schering's Vicriviroc (lymphomas) were a major concern, extending scrutiny to all CCR5 inhibitors. Although PRO140 has a different mechanism versus small molecule inhibitors, Progenics will likely have to overcome a clear safety concern for CCR5 drugs before investors gain increased confidence in PRO140's commercial opportunity. Shares of the Kenilworth, N.J.-based international pharmaceutical company were up 57 cents, or 2.99%, at $19.63 on volume of 6,095,500 shares versus the three-month running average of 5,952,160 shares. (Nasdaq: SGP)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.