XOMA Corp (NASDAQ:XOMA), a leader in the discovery and development of therapeutic antibodies, announced that the gevokizumab Phase 3 EYEGUARD-B study, sponsored by its development partner Servier, reached its target exacerbation event as specified in the study design. The objective of the first part of this study is to demonstrate the superiority of gevokizumab, as compared to placebo, on top of the current standard of care (immunosuppressant therapy and oral corticosteroids) in reducing the risk of Behçet’s disease uveitis exacerbations and to assess the safety of gevokizumab.
Servier now will begin the process of closing the clinical database and analyzing the data from this part of the study. Servier has provided a detailed schedule of the activities it will undertake to allow the locking of the database. The primary endpoint result is expected in approximately seven weeks. The trial is ongoing and remains double-masked for the extension period of the study.
The Phase 3 EYEGUARD-B study (A randomisEd, double-masked, placebo-controlled studY of the Efficacy of GevokizUmAb in the tReatment of patients with Behçet’s Disease uveitis) was designed to enroll patients with a history of Behçet’s disease uveitis with ocular involvement of the posterior segment who have experienced a recent ocular exacerbation that was treated successfully with high doses of corticosteroids. Patients were randomized to either a 60 mg dose of gevokizumab or placebo administered subcutaneously once monthly on top of their current immunosuppressive and corticosteroid therapies. The primary endpoint is the time to first acute ocular exacerbation. (Original Source)
Shares of Xoma closed yesterday at $3.32 . XOMA has a 1-year high of $5.95 and a 1-year low of $2.92. The stock’s 50-day moving average is $3.51 and its 200-day moving average is $3.82.
On the ratings front, Xoma has been the subject of a number of recent research reports. In a report issued on May 5, Credit Suisse analyst Jason Kantor assigned a Hold rating on XOMA, with a price target of $5, which represents a potential upside of 50.6% from where the stock is currently trading. Separately, on March 13, Wedbush’s Liana Moussatos reiterated a Buy rating on the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kantor and Liana Moussatos have a total average return of 40.4% and 38.0% respectively. Kantor has a success rate of 61.8% and is ranked #50 out of 3610 analysts, while Moussatos has a success rate of 53.4% and is ranked #25.
XOMA Corpdiscovers and develops antibody-based therapeutics. Several of its antibodies have properties due to their interaction at allosteric sites on specific protein rather than the orthosteric, or active sites.