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Press Release Source: AtheroGenics


New Data on AtheroGenics AGI-1067 Accepted for Presentation at the European Society of Cardiology Congress 2007
Wednesday August 29, 9:21 am ET


ATLANTA, GA--(MARKET WIRE)--Aug 29, 2007 -- AtheroGenics, Inc. (NasdaqGM:AGIX - News), a pharmaceutical company focused on the treatment of chronic inflammatory diseases, today announced that new scientific data of its oral antidiabetic agent AGI-1067 has been accepted for an oral presentation in a Hotline & Clinical Update session at the upcoming European Society of Cardiology (ESC) Congress 2007 in Vienna, Austria.
The presentation is titled, "The effect of the novel anti-oxidant AGI-1067 (succinobucol) on glycemic control, new onset diabetes and clinical events in patients with a recent acute coronary syndrome: the Aggressive Reduction of Inflammation Stops Events study (ARISE)." It will be presented on Wednesday, September 5, 2007, by Marc Pfeffer, M.D., Ph.D., Dzau Professor of Medicine, Harvard Medical School; Senior Physician in Cardiology at Brigham and Women's Hospital and co-principal investigator of the ARISE clinical trial.

Additional information regarding the ESC Congress 2007 can be accessed at http://www.escardio.org.



About AGI-1067

AGI-1067 has demonstrated efficacy in over 2,200 diabetic subjects showing improvements in glycemic control. This effect with AGI-1067 has been confirmed in other clinical and preclinical studies. Oxidative stress and inflammation have been demonstrated to play a central role in the pathogenesis of insulin resistance and diabetes. AGI-1067 is an anti-inflammatory antioxidant agent that works by inhibiting signaling pathways that are activated in response to oxidative stress and pro-inflammatory stimuli.

AGI-1067 has been evaluated in numerous pre-clinical and clinical studies, including a recent cardiovascular clinical outcomes study comprised of 6,144 subjects followed for up to three years. In that study, AGI-1067 achieved significant results in important pre-specified diabetes endpoints, demonstrating an improvement in glycemic control in patients with diabetes already being managed by conventional therapies. In addition, the number of study subjects who developed diabetes for the first time was reduced by more than 60 percent.

About AtheroGenics

AtheroGenics is focused on the discovery, development and commercialization of novel drugs for the treatment of chronic inflammatory diseases, including diabetes and coronary heart disease (atherosclerosis). The Company's lead compound, AGI-1067, is being studied in a Phase III clinical trial called ANDES (AGI-1067 as a Novel Anti-Diabetic Agent Evaluation Study) as an oral therapy for the treatment of diabetes. In addition, the Company has a development program studying AGI-1096, an oral agent in Phase I that is being developed for the prevention of organ transplant rejection in collaboration with Astellas. For more information about AtheroGenics, please visit http://www.atherogenics.com.

Disclosure Regarding Forward-Looking Statements

Statements contained in this press release that relate to events or developments that we expect or anticipate will occur in the future are deemed to be forward-looking statements, and can be identified by words such as "believes," "intends," "expects" and similar expressions. AtheroGenics cautions investors not to place undue reliance on the forward-looking statements contained in this release. These and other such statements are subject to certain factors, risks and uncertainties that may cause actual results, events and performances to differ materially from those referred to in such statements. Additional information relating to the safety, efficacy or tolerability of AGI-1067, may be discovered upon further analysis of trial data. The Food and Drug Administration might not allow us to conduct further studies of the efficacy of AGI-1067 for the same or new endpoints, and, to the extent approved, additional clinical trial work may take a significant period of time to complete or require significant additional resources to complete. There may be significant costs incurred by AtheroGenics as a result of AstraZeneca's decision to terminate the AGI-1067 collaboration and license agreement. We cannot ensure that AGI-1067 will ever be approved or be proven safe and effective for use in humans. These and other risks are discussed in AtheroGenics' Securities and Exchange Commission filings, including, but not limited to, the risks discussed in AtheroGenics' Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2007 and are specifically incorporated by reference into this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.



Contact:
     AtheroGenics, Inc.
     Donna Glasky
     Corporate Communications
     678-336-2517
     Email Contact
     
     Media Inquiries
     Jayme Maniatis
     Schwartz Communications, Inc.
     781-684-0770
     Email Contact
     
     Investor Inquiries
     Lilian Stern
     Stern Investor Relations, Inc.
     212-362-1200
     Email Contact
     


--------------------------------------------------------------------------------
Source: AtheroGenics

BIOTECH STOCKS
Drug stocks mixed; Atherogenics rockets on update
BOSTON (MarketWatch) -- Drug stocks were mixed in afternoon trading Wednesday while shares of Atherogenics Inc. rocketed after the company announced it would be presenting new data for its drug AGI-1067 next Wednesday.

Shares of Atherogenics Inc. (AGIX:atherogenics inc com
Last: 2.08+0.52+33.33%

4:03am 08/30/2007

2.08, +0.52, +33.3%) were on fire late Wednesday, up 25% at $1.95. The drug developer announced that it will be releasing new data on its diabetes drug candidate AGI-1067 at the annual meeting of the European Society of Cardiology on Sept. 5 in Vienna, Austria.


Technicals
Close Above the 50-day MA
Percentage Gainer

Last Price Quote is:
37.22%above 13-day MA
13.63%above 50-day MA
RS Rating: 21 

Fundamentals
Key Data:
Market Cap (M): $54.52 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 10/23/2007
Last Analyst Rating: Hold

 

Technicals
Most Actives
MACD - Bullish
Percentage Gainer

Last Price Quote is:
51.41%above 13-day MA
35.16%above 50-day MA
RS Rating: 83 

Fundamentals
Key Data:
Market Cap (M): $54.52 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 10/23/2007
Last Analyst Rating: Hold

Atherogenics on a roll.......

52wk Range: 1.04 - 15.70
Volume: 10,741,999
Avg Vol (3m): 1,206,780

Technicals
13-day MA Cross Above 50-day MA......
Most Actives
Percentage Gainer

Last Price Quote is:
65.53%above 13-day MA
58.59%above 50-day MA
RS Rating: 95 

Fundamentals
Key Data:
Market Cap (M): $108.25 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: 10/23/2007
Last Analyst Rating: Hold

Atherogenics rockets on update.......

Drug stocks were mixed in afternoon trading Wednesday while shares of Atherogenics Inc. rocketed after the company announced it would be presenting new data for its drug AGI-1067 next Wednesday.

Shares of Atherogenics Inc. (AGIX:atherogenics inc com
Last: 3.00+0.26+9.49%

3.00, +0.26, +9.5%) were on fire late Wednesday, up 25% at $1.95. The drug developer announced that it will be releasing new data on its diabetes drug candidate AGI-1067 at the annual meeting of the European Society of Cardiology on Sept. 5 in Vienna, Austria.

AtheroGenics hit, drug has limited diabetes effect

VIENNA, Sept 5 (Reuters) - AtheroGenics Inc's (AGIX.O: Quote, Profile, Research) failed experimental heart drug could, in theory, help fight diabetes but its effects are limited, according to clinical data presented on Wednesday.

AtheroGenics stock, which had rallied on hopes of better news, slumped 25 percent to $2.24 in early Nasdaq trade.

The news leaves uncertain the future of AGI-1067, which was dropped by AstraZeneca (AZN.L: Quote, Profile, Research) in April after it missed its primary goal of reducing cardiovascular deaths and other heart problems in a major trial involving more than 6,000 patients.

A detailed analysis of that trial, presented at the annual European Society of Cardiology congress, showed patients taking AGI-1067 had a modest reduction in levels of glycated haemoglobin A1c (A1c), a common measure of blood sugar control.

Study investigator Marc Pfeffer, professor of medicine at Harvard Medical School, said this and other findings suggested AGI-1067 might be a useful add-on treatment in diabetes.

But Lars Ryden, professor of cardiology at the Karolinska Institute in Stockholm, said the 0.26 point reduction in A1c after 12 months was unconvincing.

"Its a small reduction of glycated haemoglobin," he told the meeting in a discussion of the clinical trial results. "The impact on glucose control is so small that it is not very interesting in itself."

Over a third of patients in the study were already diagnosed with diabetes and taking anti-diabetes medicines, so changes in their regimens could also have distorted the findings, he said.

More encouraging, however, was the discovery that there was a 59 percent reduction in the development of new onset diabetes in patients with impaired fasting glucose, a condition which often leads on to diabetes.

Ryden said the possibility that AGI-1067 helped reduce the risk of at-risk patients developing type 2 diabetes was "not proven but deserved more exploration".

AtheroGenics said in May it was pursuing development of AGI-1067 as a diabetes therapy. It is currently enrolling patients into a new late-stage diabetes trial.

AtheroGenics remains convinced the anti-oxidant, anti-inflammatory drug has a future in helping diabetics.

Although the 6,144-patient ARISE trial that was testing the drug as an atherosclerosis treatment missed its main goal, among diabetics there was a strong trend toward heart benefit with a 22 percent reduction in cardiac death, cardiac arrest, heart attack and stroke. These results just missed statistical significance.

Given recent heightened concerns about potentially elevated heart risks with GlaxoSmithKline's (GSK.L: Quote, Profile, Research) widely-used diabetes drug, Avandia, and fears those risks might include other medicines from that class, a new diabetes treatment with heart protective qualities could be attractive -- if it succeeds.

The tiny biotechnology company, which slashed its work force by half after the initial AGI-1067 failure, says it has the resources it needs in both cash and personnel to carry out the planned six-month, 1,200-patient diabetes trial.

But the firm plans to seek a partner on the drug to share the risks and costs of development.


Taking a beating today.... 

AGIX
Took a position in this stock today @.71. Was one one my alerts from wranglers thread.Buy signal hasn't been given yet but With interest coming back in from last three trading days I think buy signal will be given within next few days.
JMO
If anybody decides to play this do it based upon your own DD
Will update later with chart after market closing.Using 20 MA for target,,will give trading plan when I update closing chart.
Goodluck trading

Quote from: wrangler on November 26, 2007, 12:55:10 PM
AGIX
Took a position in this stock today @.71. Was one one my alerts from wranglers thread.Buy signal hasn't been given yet but With interest coming back in from last three trading days I think buy signal will be given within next few days.
JMO
If anybody decides to play this do it based upon your own DD
Will update later with chart after market closing.Using 20 MA for target,,will give trading plan when I update closing chart.
Goodluck trading

AGIX : Ended just what I was hoping for. Volume increasing more than previous day and gave buy.
signal.
Target price still @1.17 with stop loss @.66
I'll be out tomorrow till after market close.Will post results sometime tomorrow evening.
Goodluck trading to all

AGIX : Decided to hold this stock and cancel stop loss and yes I know I'm breaking trading rule but If it can continue to hold at support of .61 I'll keep it and wait for bounce..Still feel strong it will give me a bounce.JMO as always
Goodluck trading

Dang it
I hate it when shorts pulls a stock down further when it's time for a bounce so they can grab every penny they can before they have to let go.
One big problem with this is it lowers the target price it is now 1.06.
Still holding for the bounce.
Goodluck trading

AGIX : Still holding this stock.Today it bounced for the second time off the bottom giving buy signal ,,this time buy signal was a little stronger then when I first bought and with more volume.Would be great if MACD crossed to confirm it more. Next week I'm hoping for target to get hit for sell.
Target price now @.95

 Beginning to think I should have stuck to trading plan. Press release this morning recieved letter of delisting notification on 11-28-07.
I hate these letters,,sometimes price will try hard to get back above before delisting in 30 days so I guess I'll hold and hope for that fight to stay above 1.00 for ten days.
Will continue updating till I sell my shares and give results.