Thursday, January 6, 2011

Aegerion Pharmaceuticals (NASDAQ:AEGR) Lomitapide Results Look Good

Aegerion Pharmaceuticals (NASDAQ:AEGR) is receiving a lot of optimism from Needham & Company on the possible approval lomitapide for the treatment of hoFH.

Needham said, "The 2010 Season of Biotech (Sep-Dec) for Aegerion was highlighted by a successful IPO in preparation for the regulatory submission in 2H11 and potential market approval of lomitapide for the treatment of hoFH in 2H12. The top-line data demonstrated impressive efficacy of lomitapide in reducing LDL-C (45%) and triglyceride (45%) with acceptable safety in an ongoing pivotal study...We view AEGR as a stock of added interest in 2011...The Company will follow the patients for a total of 78 weeks for safety and has guided a 2H11 submission timeline. We believe lomitapide has built a compelling efficacy and safety database with > 700 patients treated to date in 7 Phase 1 and 6 Phase 2 trials."

Needham & Company reiterates a "Buy" on Aegerion Pharmaceuticals, which closed Wednesday at $14.35, up $0.15, or 1.06 percent. Needham as a price target of $16 on them.

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