|Pfizer Stops Lung Cancer Study While Novelos' Study Patients Continue to Live Longer|
|Thursday, 31 December 2009 08:01|
In case those of you following the incredible developing story at Novelos Therapeutics (OTC:NVLT) missed it, Pfizer Inc. (NYSE: PFE) has announced that it has decided to discontinue the late-stage study of its lung cancer candidate figitumumab (CP-751,871).
Yesterday, it was reported that an independent data monitoring committee found by analyzing data from Pfizer's late-stage study that the addition of figitumumab to a combination of older medications - paclitaxel and carboplatin - was unlikely to meet the primary endpoint of improving overall survival compared to the combination of paclitaxel and carboplatin alone.
Meanwhile, Novelos' randomized, open-label, international, pivotal Phase 3 trial continues evaluating NOV-002 in combination with paclitaxel and carboplatin versus paclitaxel and carboplatin alone, in approximately 900 patients with Stage IIIb/IV NSCLC.
This is yet another reason why investors have taken more interest in Novelos and their pivotal Phase 3 study, which is now expected to conclude during the first half of 2010 at the latest.
Last week, Novelos Therapeutics target share price was quietly raised to $4 from $3 at Rodman & Renshaw. This news also ahead of the Phase 3 study results for NOV-002. The firm continues to believe that now is an opportune time for risk-tolerant investors to get into shares and keeps an Outperform rating on the stock.
"We actually potentiate the chemotherapy," said Palmin in a recent BioMedReports interview. "We make the cancer cells more sensitive to chemotherapy and we also inhibit the cancer's ability to metastasize (spread), so there are all sorts of interesting effects that happen at the tumor level. However, on the normal cells- for example bone marrow cells and blood cells- which of course get damaged by chemotherapy- we don't stop the damage but we do help the recovery from that damage. In the words of big pharma, 'if this Phase III trial is positive, this will be revolutionary for the cancer field.'"