Versant downgrades Transition to neutral

Versant Partners has downgraded Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) to “neutral” from “buy” and slashed its price target to $3.25 from $6.25, citing Transition’s decision to discontinue development of its lead diabetes drug after it underperformed in a Phase 1/2  clinical trial. The stock has dropped 18% to $3.25 Friday morning, after trading as low as [...]

Transition stops development of diabetes drug

A clinical study of Transition Therapeutics’ (TSX:TTH; NASDAQ:TTHI) gastrin analogue TT-223 in combination with an Eli Lilly (NYSE: LLY) GLP-1 analogue in patients with Type 2 diabetes did not meet its efficacy endpoints and there will be no further development of TT-223. “While TT-223 had shown efficacy through development, these results indicate that it does [...]

Transition and Elan set Phase 3 trial of ELND005

Elan (NYSE:ELN) and Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) have released top line results of a Phase 2 clinical trial of their ELND005 drug in patients with mild to moderate Alzheimer’s disease and ”based on a preponderance of evidence, and input from experts in this field, the companies intend to advance ELND005 into Phase 3 studies.” Last December, [...]

Transition begins Phase 1 study of TT-301

Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) has dosed the first patient with its TT-301 drug candidate in a Phase 1 clinical study. TT-301 has demonstrated efficacy in preclinical models of rheumatoid arthritis, intra cerebral haemorrhage (ICH) and traumatic brain injury (TBI). The Company said data from the trial are a first step in the development of TT-301 [...]

Cormark ups Transition price target 52%

Cormark Securities raised its target price on “buy-rated” Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) to $8 from $5.25, saying it believes Irish partner Elan is likely to move Transition’s ELND005 drug forward into a Phase 3 clinical trial in Alzheimer’s disease.  The stock closed at $3.50 on the TSX Friday. An imbalance of deaths in an ongoing [...]

Transition buys rights to a series of preclinical diabetes assets from Lilly

Transition Therapeutics (TSX:TTH; NASDAQ:TTHI) has expanded its existing relationship with Eli Lilly (NYSE: LLY) by acquiring rights to a series of preclinical diabetes compounds from Lilly under a new licensing and collaboration agreement. Under the accord, Transition will pay Lilly $1 million (U.S.) and Lilly will retain an option to reacquire rights to the compounds [...]