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Ariad Pharmaceuticals, Exelixis, Aveo, Threshold Pharmaceuticals Are Stocks to Watch at Start of Cancer Meeting

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The annual congress of the European Society for Medical Oncology comes on the heels of the giant US cancer meeting, ASCO, in June.

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MINYANVILLE ORIGINAL 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.

Ariad Pharmaceuticals (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.
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