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Wednesday, March 13, 2019

Celgene’s Abraxane Fails to Hit the Mark in a Phase III Pancreatic Cancer Study

Celgene’s Abraxane failed to hit endpoints of improving disease-free survival in a late-stage study of pancreatic cancer patients.
On Tuesday, Celgene said Abraxane (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in combination with the chemotherapy medication gemcitabine, failed to hit the mark as a potential treatment following surgical resection (adjuvant treatment) in patients with pancreatic cancer. The two drugs were being tested as part of the Phase III apact study. The combination treatment did not fare up as well as gemcitabine alone, Celgene said. The data was confirmed by an independent radiological review.
While the primary endpoint of disease-free survival was not met, Celgene said overall survival, which was a secondary endpoint, was improved by the combination treatment. Overall survival reached nominal statistical significance in comparison to gemcitabine alone, Celgene said.
Data from the apact study will be submitted to a future medical conference. Celgene said Abraxane’s safety profile remained consistent with previously reported studies. While the study failed to hit the mark for its primary endpoint, Celgene noted that Abraxane is being studied in more than 130 pancreatic cancer studies in combination with more than 50 novel agents.

Despite some advances in treating pancreatic cancer, patients still have a low survival prognosis due to the complex nature of the disease and lack of symptoms until the disease has progressed. Celgene noted that there remains a high unmet medical need for more effective adjuvant therapies.
While Abraxane did not hit the mark in the apact study, Celgene noted that Genentech, a Roche company, announced the accelerated approval of Tecentriq in combination with Abraxane for the treatment of adult patients with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC) whose tumors express PD-L1 as determined by an FDA-approved test. The combination treatment won approval based on progression-free survival results from the Phase III Impassion130 study. This combination is the first cancer immunotherapy regimen approved for breast cancer, Celgene said.
Approximately 10-20 percent of breast cancers are triple negative breast cancer. TNBC is an aggressive form of the disease with a high unmet need. It can be more difficult to treat because it is not sensitive to hormone therapy or medicines that target HER2.
The approval of Abraxane and Tecentriq marks the second approval from the U.S. Food and Drug Administration of a PD-1/PD-L1 antibody in combination with Abraxane.
Abraxane continues to be studied with immunotherapy agents as a combination partner across a range of solid tumors,” Alise Reicin, president of global clinical development at Celgene said in a statement.

Apyx Medical sees FY19 revenue $25M-$29M, consensus $25.88M

Sees FY19 Adjusted EBITDA loss in the range of $20.4 million to $19.4 million, compared to adjusted EBITDA loss from continuing operations of $11.7 million in FY18.

Allogene Therapeutics initiated at William Blair

Allogene Therapeutics initiated with an Outperform at William Blair
https://thefly.com/landingPageNews.php?id=2878825

Casi Pharma launches distribution agreement in China for Evomela

CASI Pharmaceuticals has entered into an exclusive distribution agreement, whereby under the terms of the agreement, China Resources Guokang Pharmaceuticals will be the sole distributor for the sale of melphalan hydrochloride for injection – Evomela – in China. Melphalan hydrochloride for injection, Evomela, was previously granted priority review by the National Medical Products Administration and subsequently approved for use as a high-dose conditioning treatment prior to hematopoietic progenitor cell transplantation in patients with multiple myeloma, and the palliative treatment of patients with multiple myeloma for whom oral therapy is not appropriate. The estimated incidence of multiple myeloma in China is ~2.0 cases per 100,000 persons, for an estimated annual incidence of approximately 27,800.

JMP Securities sees fast adoption for Aerie Pharmaceuticals’ Rocklatan

After Aerie Pharmaceuticals announced that it received early FDA approval of Rocklatan, JMP Securities analyst Donald Ellis said he expects the drug to be quickly adopted by physicians and patients given its best-in-class efficacy and once-a-day dosing. Many physicians are already prescribing Rhopressa + PGA and he would expect many to switch to Rocklatan alone, added Ellis, who keeps an Outperform rating and $75 price target on Aerie shares.

Corvus Pharmaceuticals price target lowered to $11 from $19 at Wedbush

Wedbush analyst Robert Driscoll lowered his price target for Corvus Pharmaceuticals to $11 from $19 as he pushes back potential approval of CPI-444 to be more conservative, as well as incorporate additional model tweaks. The analyst expects the company to present additional updates throughout 2019 for lead asset CPI-444 and CD73 inhibitor CPI-006, which are being evaluated in robust, broad monotherapy and combination studies in a variety of tumor types that he believes will provide clear insight into potential pivotal study designs. Driscoll is also encouraged by recent preclinical data for ITK inhibitor CPI-818 that is initiating a clinical study this quarter. The analyst reiterates an Outperform rating on the shares.

Amarin’s Reduce-It results viewed favorably by doctors, says Citi

Citi analyst Joel Beatty conducted a survey of 325 U.S. physicians to assess views related to Amarin’s Vascepa. Of the doctors that were “very familiar” with the Reduce-It results, 84% provided positive comments regarding the study, Beatty tells investors in a research note. Further, prior authorization requirements are seen as a “major barrier” to Vascepa use, the analyst adds. He keeps a Buy rating on Amarin.