For those of you still holding onto AtheroGenics (AGIX), the research-based pharmaceutical company with two clinical-stage drug development programs (according to Zacks senior drug industry analyst Jason Napodano, CFA, who published a report on AGIX last week), the company has just announced today it has filed for Chapter 11 bankruptcy. The question now seems to be who, if anyone, will pick up the pieces of the late-phase candidates AGIX had been developing.? But for anyone shocked by today's announcement, they shouldn't be.? From the same AGIX report: "The company recently released phase III data on lead compound AGI-1067 that did not meet the primary end point." And this: "In September 2008 AtheroGenics announced it will not repay the its 4.5% Convertible Notes due September 2, 2008, nor will it make its scheduled[More...]

For those of you still holding onto AtheroGenics (AGIX), the research-based pharmaceutical company with a drug development program (according to Zacks senior drug industry analyst Jason Napodano, CFA, who published a report on AGIX last week), the company has just announced today it has filed for Chapter 11 bankruptcy. The question now seems to be who, if [...]

AtheroGenics (AGIX) just reported that top-line ANDES data showed a dose dependent response and statistically significant reduction in A1c at the six month period. However, we would categorize the reduction as only modest at 0.6% for the highest (150mg) dose, and continued signs of elevate liver activity give us cause to remain skeptical of the eventual commercial potential of AGI-1067. Until a large development partner validates the program we choose to remain skeptical of AGI-1067. We are still not comfortable with the side effect profile on it, and with recent topline efficacy data showing only modest reduction in A1c levels, we are struggling to find exactly what differentiating characteristics AGI-1067 will contain in the approved label relative to other oral anti-diabetic medications. Additionally, the dwindling cash position and[More...]

Diabetes is a word we’re all familiar with, but many people don’t know the list of afflictions associated with the disease, which include blindness, heart disease, stroke, kidney failure, amputations and nerve damage. Approximately 221 million people around the world have been diagnosed with type 2 diabetes. AtheroGenics Inc. (Nasdaq: AGIX) is a pharmaceutical company [...]

Interim data for AtheroGenics, Inc.'s (AGIX) AGI-1067 in type 2 diabetes presents a mixed bag in our view. The data is good enough to continue the program and keep management and investors interested in the drug. However, the only modest efficacy and stil [More...]