Sell-side analysts comment on cancer therapy data to be presented at ESMO in Barcelona starting today.
SVB Leerink’s Andrew Berens says Seattle Genetics (NASDAQ:SGEN) may see a spike in buying on positive results for enfortumab vedotin (combined with Merck’s Keytruda in first-line bladder cancer) and tucatinib. The antibody-drug conjugate/Keytruda combo showed a 62% response rate, including a 14% complete response rate, with a favorable safety profile.
He says Clovis Oncology’s (NASDAQ:CLVS) data in BRCA-positive patients is “largely in-line” with expectations, adding that investors “are likely to remain cautious” considering competition from AstraZeneca (NYSE:AZN) and Merck (NYSE:MRK) and GlaxoSmithKline (NYSE:GSK) in prostate and ovarian cancer.
Stifel’s Stephen Willey cites encouraging data from X4 Pharmaceuticals (NASDAQ:XFOR), Zymeworks (NYSE:ZYME) and MacroGenics (NASDAQ:MGNX).
Piper’s Joseph Catanzaro likes Amgen (NASDAQ:AMGN), citing updated data on AMG 510. He is unimpressed with ImmunoGen’s (NASDAQ:IMGN) mirvetuximab triplet therapy data, regarding it as “undifferentiated” from standard of care.
Goldman’s Salveen Richter is bullish on SGEN as well saying that enfortumab vedotin should receive the FDA nod in March 2020.
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