Diabetes Data Looks Good For Human Genome Sciences & GlaxoSmithKline

Here is a link to a press release issued yesterday by GlaxoSmithKline (NYSE:GSK), regarding new Phase 2 data for Syncria(R) (albiglutide) presented at the American Diabetes Association 69th Scientific Sessions in New Orleans.

Late last week, we told our readers about Human Genome Sciences (NASDAQ:HGSI) who licensed Syncria to GSK in 2004. According to a report from MarketWatch, HGSI is entitled to fees and milestone payments that could amount to as much as $183 million - including $33.0 million received to date - in addition to single-digit royalties on worldwide sales if Syncria is commercialized.

In February 2009, GSK announced initiation of a Phase 3 clinical trial program to evaluate the efficacy, safety and tolerability of Syncria in the long-term treatment of type 2 diabetes mellitus.

“Despite a range of available diabetes therapies, over half of patients with type 2 diabetes are unable to achieve the ADA target blood sugar goal,” said the study’s lead investigator, Julio Rosenstock, MD of the Dallas Diabetes and Endocrine Center at Medical City and clinical professor of medicine, University of Texas Southwestern Medical School.“While these results need to be confirmed in ongoing studies, the findings with albiglutide are important since weight gain and fear of increased blood sugar levels can be major barriers to diabetes management.”

Again, HGSI is a company whose shares once traded in the $80 to $100 price per share range. They have several drugs with great potential in the pipeline and some study results coming very soon. If you haven't read our report, you should.

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