Biotech Values

[DewDiligence]

(AZN) Prompted by the recent explosion of interest in NS5A inhibitors for HCV in the wake of BMY’s data on BMS-790052, I looked into the NS5A drug candidate AZN picked up in its acquisition of Arrow Therapeutics in 2007 (#msg-16682361).

The drug in question, AZD7295 (f/k/a A-831) was listed as being in phase-2 in the pipeline chart* AZN posted on its website in January 2010; however, in March 2010, AZN announced that it was discontinuing drug discovery in HCV (#msg-47300638), which calls into question the status of the AZD7295 program.

Recently, the plot thickened with the listing on clinicaltrials.gov of a new 12-patient phase-1 study (http://clinicaltrials.gov/ct2/show/NCT01097408 ), which is the only listed study for this drug! I infer that, even if this program is nominally alive, AZN is not taking it seriously. Until I see countervailing evidence, I will list AZD7295 in the bottommost (“back burner”) section in the “HCV: Most Likely to Succeed” compilation.

*See http://www.astrazeneca.com/_mshost3690701/content/resources/media/investors/8270994/azn-q4-2009-65876ft.pdf