Study results coming out of a big medical meeting in Europe over the next few days are likely to move stocks of some companies testing experimental cancer drugs. The European meeting comes just a few months after a major cancer conference held in June by the American Society of Clinical Oncology
Here’s a rundown of a few companies presenting at the European Society for Medical Oncology
(ESMO) annual congress in Vienna, which begins September 28 and runs through October 2.
Shares of Threshold Pharmaceuticals
(NASDAQ:THLD) tanked earlier this month when the company said
its drug for pancreatic cancer didn’t show statistically significant improvement in overall survival of patients in a study. Overall survival was a secondary goal of the study. Updated data will be presented over the weekend. Shares of the company are still up about 500% this year.
(NASDAQ:ARIA) is in the late stages of studying a leukemia drug, ponatinib. But a drug in a much earlier stage of development, AP26113, will attract attention at the European meeting. Initial data from an early study of that drug will be presented
Saturday. AP26113 aims to attack the genetic contributors to lung cancer, lymphoma, and other types of cancer. Ariad plans a follow-up investor conference call on Monday morning.
Stifel Nicolaus analyst Joel Sendek says he expects positive results from the Ariad trial and predicts that it will compare favorably with an early-stage treatment being tested by Novartis
(NYSE:NVS). Shares of Ariad jumped almost 90% this year. Aveo Oncology
(NASDAQ:AVEO) is testing a drug, tivozanib, with partner Astellas to treat kidney cancer. The companies hope to file for approval of the treatment in the US and Europe this year. Investors will be watching for survival data trends. The company also is testing a drug, ficlatuzumab, for lung cancer. Data for that drug also will be presented over the weekend.
Cabozantinib, the lead drug for Exelixis
(NASDAQ:EXEL) will be the subject of three ESMO data presentations
. The Food and Drug Administration is supposed to rule by the end of November on possible approval of cabozantinib for thyroid cancer. The company also is testing the drug in other conditions, including prostate cancer.
Study results for Roche (PINK:RHHBY) and Immunogen’s
(NASDAQ:IMGN) breast cancer drug trastuzumab emtansine, or T-DM1, will be presented at ESMO. The companies said
last month that the drug improved survival rates. Roche applied for US approval of the treatment.
Late-stage study results of Bayer
(PINK:BAYRY) and Onyx Pharmaceuticals’
(NASDAQ:ONXX) regorafenib for colon cancer will be presented. Bayer won US approval
for the drug on Thursday. Onyx will get royalty payments from sales. Bayer also is seeking approval for the drug to treat gastrointestinal tumors and study data of the drug for that use also is expected at ESMO.
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.