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Is There More To Come From These Companies?

  • May 20, 2003
  • Paul Ruggieri

Will yesterday’s wild ride for
Genentech
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preemptive release of crucial phase III data on its developing anti-angiogenesis
drug Avastin a week before the start of this year’s ASCO meeting. It was a thing
of beauty and caught everyone off guard. Insiders at Genentech must have been
busting at the seams when they realized what they were about to
release. Investors loved the fact that Avastin’s activity against VEGF prolonged
survival in previously untreated patients with metastatic colorectal
cancer. VEGF is known to stimulate the production of new blood vessels in
growing cancers. Genentech’s stock soared 44% yesterday on the news, as well as
other companies in the “anti-angiogenesis” space. A rising tide truly lifts all
boats, especially with new developments in the treatment of cancer. Regeneron
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Aeterna
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Genera
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anti-angiogenesis drugs and all were up substantially yesterday in sympathy with
Genentech. 

         Is there more to come from these companies? Well,
Genentech will release the full data from this study at next week’s ASCO
meeting. In addition, the company is expected to release phase II data on the
use of Avastin to treat refractory pancreatic and hormone refractory prostate
cancer. There is also a presentation with OSI
Pharmaceuticals
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(OSI-774) to treat recurrent lung cancer. Regeneron is also expected to release
clinical data (phase I) on its developing anti-angiogenesis drug, the VEGF-Trap,
at next week’s ASCO meeting. Ilex Oncology
(
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some dosing and safety study data on its new oral anti-angiogenesis drug
NM-3. The anti-angiogenesis drumbeat will continue at ASCO with
Ribozyme
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data on its new drug Angiozyme in the treatment of metastatic colorectal
cancer. The drug giant Novartis
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also dipping its toe into the water by presenting phase I data on its developing
oral VEGFR Inhibitor to treat an aggressive type of brain cancer. 

All of this excitement about novel approaches to treat
cancer should make next week’s meeting of the American Society of Clinical
Oncologists even more anticipated by investors. 

Good Luck,

Paul Ruggieri MDÂ