Takeda is walking away from orteronel, its most advanced oncology candidate, after the prostate cancer treatment failed to significantly improve overall survival in two studies, a setback for the company's in-transition Millennium unit.
First it was good news, then it was bad news, and now it's good news again for Astellas' prostate cancer treatment Xtandi (enzalutamide) and its recommendation from the U.K.'s National Institute for Health and Care Excellence. At least it appears that way.
Shares of OncoGenex went into meltdown mode this morning after the biotech and its partner Teva put out word that their experimental prostate cancer drug had flunked a long-awaited Phase III study. Shares of OncoGenex immediately shed more than half their value in the reckoning with investors.
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.