Biopharmaceutical firm Ligand Pharma (LGND 131.46, +2.53) trades about +2.0% higher today to near 13-month highs after announcing ‘positive’ top-line results from a Phase 2 clinical study evaluating the efficacy and safety of LGD-6972, as an adjunct to diet and exercise, in subjects with type 2 diabetes mellitus (T2DM) inadequately controlled on metformin monotherapy.
The data comes a little more than a year after the promising Phase 1 trial results showed favorable safety and tolerability. An analyst at H.C. Wainwright this morning contended that today’s statistically significant results point to sound judgement by LGND management for taking on the Phase 2 trial as it now affords LGND “better potential economics” with potential partners on the drug candidate.
The study achieved statistical significance (p < 0.0001) in the primary endpoint of change from baseline in hemoglobin A1c (HbA1c) after 12 weeks of treatment at all doses tested, demonstrating a robust, dose-dependent reduction in HbA1c of 0.90%, 0.92% and 1.20% with 5 mg, 10 mg and 15 mg of LGD-6972, respectively, compared to a 0.15% reduction with placebo.
LGD-6972 was safe and well tolerated, with no drug-related serious adverse events and no dose dependent changes in lipids (including total cholesterol, LDL cholesterol, HDL cholesterol, and triglycerides), body weight or blood pressure after 12 weeks of treatment.
Additional details from the Phase 2 study will be submitted for presentation at future scientific conferences and for publication.
By bringing on a partner, LGND would be able to earn royalties on any potential drug partnerships formed in the future. A potential partnership could also prove less costly for the other party in the long run as not as much capital or time would be required to monetarily capitalize on a partnership. And lastly, a partnership would validate LGND’s product and findings that LGD-6972 could provide those with type 2 diabetes a more comfortable lifestyle than previously afforded.