Alright Pharma Investors, time for the daily pharma watch. My apologies for the lack of updates this past week. Today we have an action packed pharma watch so don’t miss out.
Onyx Pharmaceuticals (ONXX):
Onyx announced some good news this morning. The company said they have come to an agreement with the FDA on a Special Protocol Assessment process for the Phase III trial of Carfilzomib in Multiple Myeloma Patients. A couple of months back Onyx purchased right’s to the drug when they decided to purchase a developmental cancer drug company Proteolix for $276 million dollars upfront. And hanging in the winds is another payment of up to $575 million to Proteolix if their lead drug Carfilzomib is successful. Here’s the thing, some viewed the deal as a positive and others viewed the deal as a negative and some were indifferent. I’ll be honest here, I think the deal was a positive given the fact that Onyx is pretty much strictly a cancer development company.
Carfilzomib reported startling good results in a Phase II trial with Velcade naïve patients (treatment Velcade naïve simply means patients that haven’t received treatments of Velcade), Patients taking Carfilzomib had at the interim data point received an Overall Response Rate (ORR) of a whopping 46% in one dosing level and a 53% ORR in a higher dosage level. Time to response was at 7.6 months and Duration of response was 8.4 months. To read a full analysis of the drug click here
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