Join        Login             Stock Quote

Peregrine Pharma (PPHM) Shares Hit 5-Year High After Non-Small Cell Lung Cancer Trial Results

 September 07, 2012 03:40 PM

(By Balaseshan) Peregrine Pharmaceuticals (NASDAQ:PPHM) shares touched a new 5-year high after biopharmaceutical company presented interim results from its non-small cell lung cancer trial.

The 121 patient randomized, double-blind, placebo-controlled Phase 2b study evaluated two dose levels of bavituximab (bavituximab-containing arms) given with docetaxel versus docetaxel plus placebo (control arm).

The interim data showed a statistically significant improvement in overall survival and a doubling of median overall survival (OS) in the bavituximab-containing arms compared to the control arm.

Peregrine is planning for an end-of-phase 2 meeting with the FDA as the company plans to initiate this trial by mid-2013. The company said the latest clinical data strongly support advancing program into phase 3 clinical development.

[Related -Tough, Volatile Session Ends Lower]

The interim results from the study showed no significant safety differences between the three treatment arms as determined by the trial's independent data monitoring committee. Baseline characteristics were well balanced across all three treatment arms of the study, including performance (ECOG) status, age, gender, and race.

"Our attention is now turned to an end of phase 2 meeting by year end which will help us define the most efficient path forward to potential regulatory approval. A global Phase 3 trial designed very similarly to the robust design of this Phase 2 greatly increases bavituximab's likelihood of success," said Robert Garnick, head of regulatory affairs at Peregrine.

[Related -Big Negative Afternoon Reversal]

The interim data was presented as part of a late-breaking plenary presentation at the 2012 Chicago Multidisciplinary Symposium in Thoracic Oncology by David Gerber, Associate Professor of Internal Medicine at the University of Texas Southwestern Medical Center, a principal investigator in the trial.

PPHM is trading 44.63% higher at $4.44 on Friday. The stock has been trading between $0.39 and $5.08 for the past 52 weeks.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

Narrow Close But Positive Session
More Articles on: Medical

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.