The first big news ahead of the American Association for Cancer Research’s (AACR) annual conference hit on Friday morning when Bristol-Myers Squibb (BMY) reported that the phase 3 CHECKPOINT-057 study, testing the anti-PD1 Opdivo (nivolumab) in lung cancer, was stopped early based on the drug’s efficacy over docetaxel. BMY climbed 3% in the Friday session. Merck (MRK) presents its own non small-cell lung cancer data for the competing Keytruda at AACR this weekend.
The conference begins on Sunday and runs through next Wednesday.
The American Society of Clinical Oncology’s annual meeting takes place at the end of May, but abstract titles from the conference will be released this coming Monday. The abstract contents (barring late-breakers) will be released two weeks before the conference, on May 13.
On Friday we published an ASCO preview highlighting a handful of s/mid-cap oncology companies to know (or trade) into the event. It’s not always clear exactly what these companies will present, but it’s a good list of names to know in advance.
Karyopharm (KPTI), for instance, will offer a first look at the effect of its lead drug candidate selinexor in solid tumor indications. Selinexor is an exportin-1 antagonist, an inhibitor of nuclear export designed to keep tumor-suppressing proteins inside the nucleus of cancer cells. It’s a novel approach with only one other drug developer pursuing the same target: Stemline Therapeutics (STML). Karyopharm has run a number of proof of concept studies in hematologic indications, but ASCO will be the first time investors see these solid tumor results.
Investors are looking for TG Therapeutics (TGTX) to present more data on the varied combinations of its TG-1101, TGR-1202, and Pharmacyclics‘ (PCYC) ibrutinib in B-cell malignancies. Although ASCO is unlikely to be profound for TGTX, it always seems to draw some attention.
Read about the rest, including JUNO, CERU, RXDX, KITE, ONTY, and NVS, : Oncology Stocks to Watch (or Trade) into ASCO 2015.
Aduro Biotech (ADRO) IPO’d this week to much fanfare, with the immunotherapy stock opening up 90% from its $17.00 IPO price before ripping as high as $49.00 a day later. The stock ended the week at $40, still a 135% gain for investors who were able to get a piece of the IPO. Aduro develops cancer immunotherapies based on Listeria. The attenuated bacteria is modified to encode and express specific tumor antigens, which are essentially read by the body’s immune system in order to initiate an immune response specific to these particular antigens – and the cancer cells expressing them.
This is the same technology used by Advaxis Inc. (ADXS), which has more than quintupled since December of last year as immunotherapy came into vogue and as word got out that Aduro would be making a splash on the public markets.
Aduro is coming public with a staggering warchest of almost $500 million in cash. Much of that came earlier this month when Novartis (NVS) put up $200 million to collaborate on a drug discovery and development program for the STING signaling pathway, an intriguing approach to cancer immunotherapy.
The spotlight on ADRO this Wednesday meant that the preclinical anti-fungal company Cidara Therapeutics’ (CDTX) IPO the same day received little attention. Though Cidara is early in the development process – the company has yet to begin human studies of its lead candidate – the team and venture supporters are worth noting. CEO Jeff Stein sold his previous company Trius Therapeutics to Cubist just two years ago. The BoD and management team are stocked with stalwarts of the antibiotic space, and 5AM Ventures has taken a lead role in bringing this small company to the public markets. CDTX actually closed the week below its IPO price. With clinical studies to begin late this year and antibiotics still en vogue, CDTX is one to keep on the radar.
