ITMN : IterMune Biopharmaceuticals gets good news from the FDA
This morning, IterMune stocks (on the New York Stock Exchange as ITMN) rose over 60%. This was a result of the FDA annoucing it would be reviewing ITMN’s drug application for their new drug Esbriet (pirfenidone). The FDA has expressed concerns over this particular drug, however, so I wouldn’t yet recommend taking out personal installment loans just to buy this stock – at least, not yet.
ITMN drug treats lung problems
The new drug from ITMN that the FDA will be reviewing is intended to treat idiopathic pulmonary fibrosis. This is a condition where a person’s lungs (pulmonary system) develops thick, heavy scarring (fibrosis). Idiopathic cases are simply cases that have no known cause. Learn more about the disease ITMN’s new drug is intended to treat on the Mayo Clinic website or on Google Health. If the drug ITMN developed is approved, it would be the first and only treatment intended for this deadly disease.
ITMN dodges a bullet of criticism – so far
When the FDA announced that InterMune’s drug would be take up for review, the outlook was not entirely rosy. While the commentary was rather critical, it was still better than industry watchers and ITMN officials had expected – which is why ITMN stocks jumped so quickly this morning. A large part of the criticism, as pointed out by Bloomburg News was based on the fact that the drug actually failed in one of the two studies intended to test the ITMN drug’s effectiveness.
The future of ITMN looks good
While ITMN has a very long and stressful week ahead of it, the outlook for this company is fairly good. Currently, ITMN has only one approved drug – Actimmune – which treats rare congenital disorders. However, on ITMN’s website they list several more drugs in development, including second-generation HIV treatments. Business Week also points out that the drug ITMN is hoping to get approved by the FDA was approved for use in Japan in October of 2008. Their stock has had some fairly severe ups and downs, though if they can successfully use this drug to make progress on their debt repair, they will be in a good financial position for future earnings.