Tesaro’s PARP accepted for review in EU as AZ makes case for Lynparza

EU
Tesaro hopes to be earning from its PARP in Europe from next year

Former Fierce 15 winner Tesaro ($TSRO) has taken another step toward seeing its experimental PARP med niraparib gain its first approval after the EMA accepted its ovarian cancer drug for review--as AstraZeneca ($AZN) pumps out the data to shore up its defenses against the newcomer.

Tesaro, increasingly at the center of M&A speculation since it posted some strong data for its drug back in the summer, said in a brief update that its PARP inhibitor has been accepted for review by the EMA, specifically for the maintenance treatment of patients with platinum-sensitive, recurrent ovarian cancer who are in response to platinum-based chemotherapy.

Maintenance therapy is for those women who have had prior treatment but are expected to see their cancer return. Its purpose is to avoid or slow a recurrence if the cancer is in complete remission after initial treatment.

The biotech, which also has a rolling NDA submission with the FDA, is hopeful of a 2017 European approval. Back in June, Tesaro jumped 108% on the day it published Phase III data helped increase progression-free survival (PFS) rates significantly across a series of ovarian cancer patients with different forms of the disease.

A PARP is already on the market for ovarian cancer in the form of AstraZeneca’s Lynparza (olaparib), which has a second-line setting and is expected to reach $2 billion in peak sales.

AstraZeneca is not happy about Tesaro looking to get onto the market, and earlier this week posted its own set of top-line data showing its marketed med “substantially exceeded” the PFS shown in the mid-stage trial that won originally won its approval.

The FDA based its approval of Astra’s med on a Phase II study comparing Lynparza with a placebo in BRCA-positive patients who'd relapsed after three rounds of chemotherapy.

In the 137-patient study, the drug chalked up a 34% response rate, with half of patients responding for at least 7.9 months. The drug was approved alongside a companion diagnostic, BRACAnalysis CDx, from Myriad Genetics.

Both will also need to contend with Medivation ($MDVN), recently snapped up for $14 billion by Pfizer ($PFE), which has its own PARP in late-stage testing. Its med talazoparib was originally licensed from BioMarin ($BMRN) last year. Tesaro got its hands on niraparib from Merck ($MRK) 4 years ago.

The biotech, which has a market cap just shy of $6 billion, was slightly down yesterday by 0.7%, but since its PARP data were released in June its shares have skyrocketed from around $37 a share to $118 apiece at end of play last night.