Human Genome Sciences (HGSI) Share Shines In After Hours

Human Genome Sciences (NASDAQ:HGSI) shares trading soared  10.50% in After Hours after an endorsement from a government advisory panel. The advisory panel backs Human Genome lupus drug Benlysta. Benlysta could become the first medicine in a half-century to win approval for fighting the debilitating and potentially fatal autoimmune disease. It has been anticipated that this news will transform the company from Unprofitable segment to the Industry Star. Analysts' forecasted the annual global sales of $2.2 billion by 2014. The FDA Arthritis Advisory Committee voted 13-2 in favor of Benlysta approval for the treatment of systemic lupus erythematosus. While discussions centered primarily on Benlysta’s mild efficacy benefit, lower response rate is found in patients of African descent and trial design,the panel voted 10-5 that the data demonstrated substantial evidence of efficacy. In terms of the safety profile, the vote was 14-1 in favor of approval given the small patient numbers . The proposed drug includes long-term safety analyses from ongoing trials (1,293 currently on drug) and several post-marketing studies. Lupus is a disease that causes the immune system to attack the body’s own tissue and organs and can lead to arthritis, kidney damage, chest pain, fatigue, skin rash and other problems. Organ damage can be fatal, and current treatments have severe side effects. However FDA reviewers said that this drug might raise the risk of death, infection, or psychiatric problems including suicide. Human Genome Sciences (HGS) is a commercially focused biopharmaceutical company. The Company has three products in late-stage clinical development: BENLYSTA for systemic lupus erythematosus (SLE), ZALBIN for chronic hepatitis C, and raxibacumab for inhalation anthrax. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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