Nymox Pharmaceutical is headed for a bruising opening this morning after putting out word on Sunday that both their late-stage studies of their lead drug flopped as a treatment for enlarged prostate. Partnered with Italy's Recordati, the biotech put out a brief statement blaming the failure on an unexpectedly high placebo response.
Johnson & Johnson's next-gen prostate cancer pill, Zytiga, has been cruising since it hit the market back in April 2011, but now, it may be vulnerable to market share losses for the first time. The FDA has approved Medivation and Astellas' rival, Xtandi, for use in prostate cancer patients before chemo, giving the pill a head-to-head shot at J&J's blockbuster.
Late on Monday evening Exelixis put out the word that its crucial late-stage study of cabozantinib flunked a comparison study with prednisone for castration-resistant prostate cancer, triggering a restructuring that will eliminate 70% of the jobs at the biotech.
German drug developer MorphoSys is pairing up with Emergent BioSolutions to get its hands on an early-stage prostate cancer treatment, signing a deal worth up to $183 million for a promising antibody.
U.K.'s National Institute for Health and Care Excellence has delivered a blow to Johnson & Johnson's Zytiga in final draft guidance recommending against the prostate cancer pill as a treatment for prostate cancer before chemotherapy. And nobody seems very happy about it--including NICE itself.
Cambridge, MA's Tokai Pharmaceuticals is joining the IPO queue with eyes on $75 million, cash that would get its triple-threat prostate cancer treatment into Phase III trials.
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.