You are using an older browser version. Please use a supported version for the best MSN experience.

Eiger (EIGR) Gets FDA Approval for Zokinvyin Rare Diseases

Zacks.com logo Zacks.com 11/24/2020

Eiger BioPharmaceuticals, Inc. EIGR announced that the FDA has approved Zokinvy (lonafarnib) for the treatment of Hutchinson-Gilford Progeria Syndrome (HGPS or Progeria) and processing-deficient Progeroid Laminopathies (PL).

Shares of the company have decreased 35.9% year to date while the industry did not show any movement.

chart, line chart © Provided by Zacks.com

HGPSand PL are rare genetic diseases that cause premature aging and death. Zokinvy is the first FDA-approved medication for such diseases. Zokinvy is a disease-modifying agent that showed a statistically significant survival benefit in children and young adults with Progeria in two open-label studies. Zokinvy increased survival by 2.5 years in children and young adults with Progeria.In patients with Progeria, Zokinvy reduced the incidence of mortality by 60%.Eiger noted that many progeria patients have received continuous Zokinvy therapy for more than 10 years. 

Zokinvy has received both orphan drug and breakthrough therapy designations from the FDA, as well as a rare pediatric disease priority review voucher (PRV). Eiger plans to sell the voucher and also said that it would share the proceeds equally with The Progeria Research Foundation (PRF)under a previous agreement. The therapy is currently under review by the European Medicines Agency. 

Zacks Rank & Stocks to Consider

Eiger currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the healthcare sector include ASLAN Pharmaceuticals Ltd. ASLN, Abeona Therapeutics Inc. ABEO and Alimera Sciences Inc. ALIM, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ASLAN’s loss per share estimates have narrowed from 42 cents to 40 cents for 2020 and from 60 cents to 57 cents for 2021 over the past 60 days. Shares of the company have decreased 37.5% year to date.

Abeona’s loss per share estimates have narrowed from 96 cents to 88 cents for 2020 and from 69 cents to 64 cents for 2021 over the past 60 days. Shares of the company have decreased 52% year to date.

Alimera’s loss per share estimates have narrowed from $1.31 to 96 cents for 2020 over the past 60 days. Shares of the company have decreased 38.6% year to date.

 

Eiger BioPharmaceuticals, Inc. Price

chart: Eiger BioPharmaceuticals, Inc. Price © Provided by Zacks.com Eiger BioPharmaceuticals, Inc. Price

Eiger BioPharmaceuticals, Inc. price | Eiger BioPharmaceuticals, Inc. Quote

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity. A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

AdChoices
AdChoices

More from Zacks.com

image beaconimage beaconimage beacon