|ArQule shares bottom out after encouraging ASCO data|
|By Brian Wilson, Contributor|
|Tuesday, 26 June 2012 06:45|
Other proteins that have already been heavily studied, like VEGF, have been targeted by the angiogenetic inhibition drug market. The drug bevacizumab (Avastin) for instance, has been marketed by Genentech (RHHBY) with success. Tivantinib, among other new angiogenic inhibitors, are hence targeting c-MET in the hopes that this will disable one pathway by which cancer cells have been supporting proliferation.
On June 2nd, at the 48th annual meeting of the American Society of Clinical Oncology (ASCO), ArQule has released positive phase II study results for Tivantinib for the treatment of hepatocellular carcinoma conducted by Daiichi Sankyo. The phase II trials were conducted with 107 HCC patients who had inoperable tumors and had disease progression following first-line therapy, or were deemed incapable of tolerating first-line therapy. The primary endpoint was the TTP (time to progression) in the ITT (intent to treat) population, which was met with success.
A statistically significant 56% improvement relative to the placebo group was seen in the “time to progression”, or “test” population. Another encouraging statistic was the median TTP in the tivantinib arm, which was recorded as 2.9 months relative to the 1.5 months in the placebo arm representing a significant average slowing of HCC. This equated to a hazard ratio of .43.
The Monday following the Saturday (June 2nd) on which the encouraging phase II statistics were revealed, the stock jumped almost 3% and looked like it was set to begin a rebound after the ~20% drop it has experienced in the last month, but shares are once again back down to “bottom” levels.