Hell hath no fury as a disappointed investor who bet wrong on a biotech catalyst. The execs at Exelixis got a three-course serving of that anger this morning as its stock went into a 35% nose dive--after the biotech announced that its interim analysis was complete and the Phase III prostate cancer study for cabozantinib would go to its conclusion.
The U.K.'s National Institute for Health and Care Excellence is known to change its mind. But this time, Britain's cost watchdog has set limitations on its recommendation for prostate cancer pill Xtandi--and maker Astellas is none too happy.
Bayer considers itself a disciplined M&A strategist. Apparently, its discipline stretched far enough to accommodate a $500 million increase in its bid for Algeta, the Norwegian drugmaker that's also its partner on the Xofigo cancer treatment.
New Jersey's Arno Therapeutics has nailed down a $30 million private placement, cash that'll help the biotech get its treatment for hormone-dependent cancers through Phase I and on the path to FDA approval.
Xtandi has reached a key milestone: success in a Phase III trial eyeing the drug from Medivation and Astellas as a prechemo treatment for advanced prostate cancer.
Soon after Xtandi hit the market last year, analysts were figuring that the prostate cancer drug would help pump up that market to $9.1 billion by 2021. And now, the drug has shown success in a Phase III trial eyeing Xtandi as a prechemo treatment for advanced prostate cancer.
Xtandi, the prostate cancer drug from Astellas, is a pill, and that is a benefit to patients in the eyes of an independent committee for the U.K.'s price watchdog, NICE. But then, so is Johnson & Johnson's competitor Zytiga, which NICE has already approved. The difference is that Xtandi can be taken after eating, an advantage the makes it more convenient in the eyes of NICE evaluators who have favored its use in the U.K.
Noting that Japan is one of the world's fastest-growing pharmaceutical markets, Marc Dunoyer, AstraZeneca's executive vice president of global products and portfolio strategy said: "This deal is a strong strategic fit for AstraZeneca, reinforcing both our focus on oncology as a core therapy area and Japan as one of our key growth drivers."
Researchers at Sanford-Burnham Medical Research Institute have developed a compound called SMIP004 that zeroes in on prostate cancer cells and compromises their ability to withstand environmental stress--a trademark of cancer cells.
Dendreon today got the best news it has had in a long time for its prostate cancer vaccine Provenge, a thumbs up from the Europe's Committee for Medicinal Products for Human Use (CHMP) for approval in Europe.