Alright Pharma Investors, time for the daily pharma watch.
Nektar (NKTR):
Nektar announced some pretty good topline results this morning from a 39 patient Phase II study of their Ovarian cancer drug NKTR-102. The study was broken down into two groups one with 19 patients and one with 20 patients. In the 19 patient group, patients had an Overal Response Rate (ORR) of 32% and in the 20 patient group there was an ORR of 35%. The ORR looks promising given the fact that the drug is designed to work with patients that are platinum resistant. At any rate, with results like this, the company will without a doubt send NKTR-102 into Phase III clinical trials.
Genta (GETA):
Genta put out some news today on two scientific studies that tested one of the active ingredients in Genta’s Ganite program to develop gallium containing compounds. The new data showed that the treatment increased bone volume and calcium content in models that simulates post menopausal osteoporosis. Ordinarily this would be somewhat good news for a company, but Genta is so pressed for cash after their lead product Genasense failed its large clinical trial for Melanoma called AGENDA that I don’t think any announcement is going to boost investors hopes at this point. The company is largely expected to enter into bankruptcy sometime in the first half of 2010.
Vion (VIONQ):
Alright, some good news out of Vion this morning, the company said that they have filed a Special Protocol Assessment with the FDA to run a Phase III clinical trial for their lead product Onrigin. Last year, the company tried to get the drug approved with only a Phase II clinical trial for AML patients, but the FDA told the company to go back and run a more controlled trial. The problem was that at the time the company had no cash and was forced to enter into bankruptcy. A move I don’t wholly agree with because I believe they could have had additional access to capital just not with such a great return to shareholders. However as it stands now, it is not clear whether or not Vion will even end up owning the rights to Onrigin after the bankruptcy is settled. So on a final note, yes this is good news, but for who? Shareholders or the next guy that ends up holding the Onrigin bag.
YM BioSciences (YMI):
YM announced this morning that all went well with the merger vote for Cytopia, with shareholders at Cytopia voting in favor of the merger. The two companies are expected to comlete the merger on January 18, 2010. YM’s lead drug Nimotuzumab is clinical trials for multiple cancer indications, the drug is thought to be a less toxic substitute to Erbitux. However, some doubt still remains about the drug’s effectiveness in patients with a mutated form of the K-Ras gene. cont’ on next page
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