Buy ratings on Ablynx as four Nanobodies due to enter clinic by the end of 2009
Ablynx said that its first-quarter 2009 net loss narrowed to 3.0 million euros ($4.1 million) from 3.3 million euros in the comparable period the last year, as the Belgian antibody-drug developer also announced that its von Willebrand Factor agent has been granted orphan drug designation by both US and European regulators for thrombotic thrombocytopenic purpura, a rare life-threatening blood disorder.
ALX-0681 is a subcutaneous form of Ablynx's lead anti-thrombotic, ALX-0081, and is designed to selectively prevent unwanted thrombus formation in blood vessels. If it reaches the market, ALX-0681 will benefit from an exclusivity period of seven years in the USA and 10 years in Europe, based on its orphan status.
The firm also noted that ALX-0081 is scheduled to move into Phase II testing in the third quarter. A total of four drug candidates will be in clinical trials by the end of the year.
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