Drug makers like Onyx Pharmaceuticals Inc. (ONXX), Ariad
Pharmaceuticals Inc. (ARIA) and Incycte Corp. (INCY) are moving
Thursday after the American Society of Clinical Oncology disclosed
data on more than 4,000 new clinical studies ahead of its annual
meeting in June.
ASCO unveiled the data Wednesday, so investors, media and the
medical community can review the results before they are discussed
at the organization's meeting in Chicago on June 3-7. Other stocks
moving Thursday included Celgene Corp. (CELG), Oxigene Inc. (OXGN)
and Exelixis Inc. (EXEL)
Incycte shares slid 7 cents to 19.24 after trading up 3.2%
earlier. The company reported updated data on a Phase III trial of
its ruxolitinib in myelofibrosis, a bone marrow disorder with no
treatments, showing a trend toward improved survival in patients on
the drug. The company is partnered with Novartis AG (NVS NOVN.VX)
on the drug, and more data is expected at the meeting.
"We remain confident in ruxolitinib approval, and see
significant upside from the current valuation on full Phase 3 data
and approval, and on a successful launch," Jefferies analyst Thomas
Wei wrote in reaction to the data.
Another analyst, Avik Roy with Monness, Crespi, Hardt & Co.,
said the data show a potentially serious side effect of lowering
platlet counts, something that could "loom large" for the future of
the drug.
YM BioSciences Inc. (YMI) is developing a potential competing
drug, and its shares rose 1% to $3.05.
Onyx shares fell 6.3% after Nexavar, sold with Germany's Bayer
AG (BAYRY, BAYN.XE), had positive results in advanced breast cancer
patients, although some questioned the degree of that success.
Nexavar is approved to treat kidney and liver cancer.
The midstage breast cancer study of Nexavar tested the drug in
patients that already used Roche's Avastin. The study is the third
of four Phase II trials in breast cancer. One showed success,
another failed, and the fourth is expected later this year.
Some analysts said the data provides encouragement for Phase III
testing of the drug, while other said the benefit was only
modest.
Analyst Christopher Raymond of Robert Baird said the FDA's push
to rescind the approval of Avastin in breast cancer makes Nexavar's
usage in prior Avastin patients less relavant to a real-world
use.
Also hurting Onyx is another study that showed Pfizer Inc.'s
(PFE) axitinib was more effective than Nexavar in treating advanced
kidney cancer in patients that already had prior treatment.
Ariad is down 4.5% to $8.79 after the company confirmed the
effectiveness of ridaforolimus, developed with Merck & Co.
(MRK), as a maintenance therapy in advanced sarcoma, a group of
cancers that forms in connective tissue.
The drug showed a survival benefit of more than two months to
about 22 months, as of the data cut-off in the fall. Merck is
currently conducting an analysis and an update to the survival data
will be presented at the June ASCO meeting.
Oxigene dropped 2.3% to $5.02 after survival date on its
Zybrestat for a type of thyroid cancer showed a similar outcome as
previously disclosed. Patients on the drug had a median survival of
5.2 months, compared to 4 months for those not using it.
One year survival was 27% on the drug, compared to 9%. Updated
data may be provided in June, but the Food and Drug Administration
has told the company that it needs to conduct an additional
clinical trial that measures survival before it can apply for
approval.
Celgene dropped 1.1% to $60.14 after releasing a slew of data on
its various products including chemotherapy drug Abraxane and
cancer drug Amrubicin, both of which were obtained through
acquisitions in recent years.
Abraxane did show improved response and better tolerability than
traditional paclitaxel chemotherapy in treatment for non-small cell
lung cancer, but there was no difference in patient survival.
Amrubicin failed to show a survival benefit in advanced
small-cell lung cancer that has been previously treated. The study
concluded that the response rate on the drug was significant and
that the survival data trended in favor of Amrubicin.
Citigroup analyst Yaron Werber said the patients in the trial
are very tough to treat, so the results were surprising.
"We do not expect Celgene to file for approval based on this
disappointing result," he said.
Exelixis rose 10 cents to $11.76 after a midstage study of
cabozantinib showed strong results in several hard to treat types
of cancer, including a positive impact on the disease's spread to
bone in some cases.
Exelixis is focused on developing the drug after losing
Bristol-Myer Squibb Co. (BMY) as a partner last year. Exelixis
expects Phase III data in prostate cancer mid-year, but it also
will be providing updated data on cabozantinib at ASCO in June.
Pharmacyclics Inc. (PCYC) is up 4.8% to $7 after presenting
positive updated data on its study of PCI-32765 in chronic
lymphocytic leukemia/small lymphocytic lymphoma.
RBC Capital Markets analyst Jason Kantor said that the data
could still get better as a further update is provided at ASCO.
"While we continue to view 2011 largely as an execution year, it
sets the stage for substantial newsflow in late 2011-2012 including
the likely initiation of pivotal trials and potentially a lucrative
partnership," Kantor said.
-By Thomas Gryta, Dow Jones Newswires; 212-416-2169;
thomas.gryta@dowjones.com
YM Biosciences (AMEX:YMI)
過去 株価チャート
から 6 2024 まで 7 2024
YM Biosciences (AMEX:YMI)
過去 株価チャート
から 7 2023 まで 7 2024
