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Astex Pharmaceuticals, AŞ Message Board

  • michaelplongo michaelplongo May 8, 2013 11:42 PM Flag

    Edison Research May 7th report

    Google generic dacogen and look for Edison Research Template
    It states in part:
    A more than 70% appreciation in the share price over the past two months suggests the market is recognising the potential value in Astex’s internal pipeline, particularly SGI-110 – which is the central element of Edison’s investment thesis. Despite the shares recent 52-week high, we consider there to be an attractive investment case with multiple upside catalysts. A solid Q1 with Dacogen royalty revenue of $22.1m allowed Astex to reaffirm annual royalty guidance of $55m despite the potential imminent introduction of a US generic. We value Astex at $678m (including 2013 year-end cash), equivalent to $7.25 per share basic ($6.73 diluted).
    SGI-110 is a pro-drug of decitabine with a fourfold longer plasma half-life (resistant to degradation by cytidine deaminases) and lower Cmax (and thus potentially lower toxicity than decitabine). Preclinical studies have established that SGI-110 is more potent than decitabine at inhibiting gene methylation, which is the mechanism of action of HMAs including Dacogen and Vidaza (azacitidine, Celgene). Data published at ASH last year showed a link between clinical response and demethylation status was measured by whether patients achieved 10% LINE-1 hypomethylation.1 Among the 50 AML patients treated, 17 (26%) of those who had achieved 10% LINE1 demethylation also showed an objective response, whereas 0% of patients who had