ASCO abstract titles released; BioPharmX (BPMX) data now due early May
Price and Volume Movers
The annual American Society of Clinical Oncology (ASCO) meeting is just around the corner, to be held from June 2-6, 2017. The meeting is regarded as the leading oncology meeting of the year and given that oncology stands to the forefront in terms of drug development, ASCO is seen by many as the central medical meeting for 2017.
Given the importance of the meeting, investors not only look forward to the actual oral and poster presentations, but they also obtain a glimpse of what will be presented when the abstracts are released. Wednesday May, 15 (5pm EST) is the time and date to note for release. Visit abstracts.asco.org to obtain the abstracts.
The abstract titles were released yesterday and relevant companies have been quick to inform the investment community of their upcoming presentations, some of which are noted below in the Pipeline Updates section. It is by no means a complete list and more titles will be added.
Given the number of abstract titles we have just included the Tesaro news in today's newsletter:
TESARO Inc (NASDAQ:TSRO) shares dropped 6% to close down at $139.01 following its release of its pricing plans for its recently approved PARP inhibitor Zejula (niraparib). The company announced Wednesday that the Wholesale Acquisition Cost (WAC) for its recently approved ZEJULA would be $9,833 for a one-month supply of the 200mg dose. Patients will however initially receive a 300mg dose that will cost $14,750 a month and will be down-dosed to the 200mg and 100mg ($4917) doses if the patient receives an adverse reaction. In its Phase 3 NOVA trial of 367 patients treated with ZEJULA, adverse reactions led to dose reduction in 69% of patients, most frequently from thrombocytopenia (41%) and anemia (20%). The permanent discontinuation rate due to adverse reactions was 15%. The net result of the down-dosage will be an average price of around $10,350 according to estimates by Leerink analyst, Seamus Fernandez, who also lowered his price target from $186 to $158.