ISIS Pharmaceuticals (NASDAQ:ISIS) known for its extra ordinary services in the field of antisense drugs and their exploitation & production saw a tremendous increase of 19% in its market growth during October. The company is also renowned for its unique procedure of manufacturing antisense drugs. For reference antisense technique binds latest techniques and studies in order to treat genetic diseases. The company revealed this news after it received two payments from their partner; the pharmaceutical giant GlaxoSmithKline (NYSE:GSK), while working on a joint venture.
ISIS (NASDAQ:ISIS) and GSK (NYSE:GSK) are working on a joint program for different drugs and the first payment was for the combined drug ISIS-GSKrx. The will be used for the treatment of undiagnosed cancer diseases. The company received the payments in two stages; the first transaction worth $1.5 million was made on 1st Oct. while the 2nd payment was made on 9th Oct. This payment proved quite beneficial for the company which helped in elevating ISIS’s market during the month. In fact the drug is moving to the 2nd phase and soon clinical development will start.
ISIS (NASDAQ:ISIS) received its 2nd payment of $18 million, almost a week after the first transaction. This payment was associated with the progress of another drug ISIS-TTRrx. GSK (NYSE:GSK) provided the money for the study and development of the drug, while the drug will be used for treating familial amyloidal poly-neuropathy. The drug at present is the best late-stage treatment drug in the company. In fact, despite being in its early and experimental stages, the drug has already generated 45 million dollars, whereas, the company (NASDAQ:ISIS) is expecting it to reach $70 million.
These collaborations and payments kept the company on track to make way for new and potential investors. With the help of these payments the company can provide its researchers with the latest technology. In the end, the company (NASDAQ:ISIS) gave news about its latest ISIS-SMNrx which currently, is in its initial stages of experimentation and is used for the treatment of spinal muscular atrophy in children and infants.
The drug showed positive feedback from infants with increase in their muscular activity. In fact, infants who received the treatment now require lesser time in incubators than infants without the treatment. The drug has a bright future and ISIS (NASDAQ:ISIS) sees the drug as becoming a new source of fighting with spinal muscular atrophy. So, we see ISIS (NASDAQ:ISIS) is trying hard to boost its market growth and at present the company is working on all cylinders with more than 30 ongoing projects in different fields.
The company is somehow at the best time period. If the company comes out successful from these projects, then it will have surely acquired a stable reputation in the market. Although the company does not have a lot to offer in its pipeline, but the current progress rate suggests that the company may end up doubling its profits and revenue in the coming years.