In a May 13 story about stocks of cancer treatment developers and the upcoming American Society of Clinical Oncology meeting, The Associated Press reported erroneously the name of a drug on which Genentech and Immunogen will release study data.
The name of the drug is trastuzumab-DM1, also known as Herceptin-DM1, not Herceptin, which refers to the companies' original formulation.
A corrected version of the story appears below.
_______
NEW YORK (AP) _ Early and midstage study data could give several cancer treatment developers a boost over the next few weeks as small and midcap companies release presentation previews for the upcoming annual American Society of Clinical Oncology meeting.
The meeting opens May 30 and runs through June 3 in Chicago. But, abstracts for company presentations are scheduled for release Thursday, giving researchers and investors a peak at the various study results scheduled for the conference.
Lazard Capital Markets analyst Joel Sendek expects early-stage data from Arqule Inc.'s developing tumor treatment to give some insight on the next stage of development and upcoming studies in prostate and gastric cancer. ARQ 197 is the company's lead drug candidate and is likely to meet significant competition.
Sendek reaffirmed a "Buy" rating with a $8 price target on Woburn, Mass.-based Arqule.
Meanwhile, he is awaiting data on Cambridge, Mass.-based Ariad Pharmaceuticals Inc.'s oral formulation of the developing sarcoma treatment Deforolimus. Data is scant on the oral formula, he said, though a previous study using an intravenous version prompted a response rate in patients. He reaffirmed a "Buy" rating and a $11 price target on Ariad and said competitors presenting data include Wyeth and Novartis.
Los Angeles-based Cougar Biotechnology Inc. will report full study data on four midstage studies for its Abiraterone drug candidate. The drug is in late-stage development currently and Sendek expects a launch in 2011 for prostate cancer. He reaffirmed a "Buy" rating with a $40 price target.
South San Francisco, Calif.-based Cytokinetics Inc. will present data from an early-stage study of its developing Ispinesib breast cancer treatment and said it could provide a basis for dosing levels in a separate clinical trial. He reaffirmed a"Buy" rating with a $12 price target.
South San Francisco, Calif.-based Exelixis Inc. is set for seven data presentations on four of its developing drugs, giving investors a broad pipeline of programs to assess. Sendek reaffirmed a "Buy" rating with a $12 price target, saying the company is a good investment because of its deep pipeline.
Sendek reaffirmed a "Buy" rating with a $8 price target for Cambridge, Mass.-based Immunogen Inc., ahead of expected positive early-stage study data on Herceptin-DM1, or trastuzumab-DM1, as a breast cancer treatment. There is an ongoing midstage study and matching data for both stages of development could prompt partner Genentech to accelerate development into Phase III clinical trials.
Other companies presenting study data include OSI Pharmaceuticals Inc., Oxigene Inc. and Poniard Pharmaceuticals Inc.
Terms & Conditions
RSS Headlines
Fool UK