Fibromyalgia stocks may be very active after Jazz Pharma trial (JAZZ)
Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) shares are up more than 30% on strong premarket volume and may be one of the most active biotech stocks today after the fibromyalgia treatment developer said preliminary data from a second Phase III trial of its pain drug Xyrem met its primary endpoint.
The company in a press release said 573 patients treated with Xyrem in a 14-week trial showed a 30% reduction in pain and fatigue and demonstrated improved daily function.
The positive test result for Xyrem may negatively affect shares of Cypress Bioscience Inc. (CYPB) today, which has a competing drug called Savella marketed with Forest Laboratories Inc. (NYSE: FRX) that was approved to treat fibromyalgia in January.
Beyond today however, the Street may come to realize that the data in the second Phase III trial for Xyrem is similar to that of the first trial, so there is not necessarily a new competitive threat.
Also, the Cypress Biosciences drug is generally seen a closer competitor to existing drugs on the market, while Xyrem is seen as a late-stage treatment for the disease.
The two most established treatments for fibromyalgia are Pfizer Inc.’s (NYSE: PFE) Lyrica and Eli Lilly & Co.’s (NYSE: LLY) Cymbalta. — Mike Tarsala.
