Abraxis Shoots Up On News of Acquisition

June 30, 2010 · Filed Under Cancer · Comment 

Abraxis BioScience, Inc. (NASDAQ: ABII) was up $13.11 (21.38%) to $74.42 this morning on news that Celgene Corp. would buy the company for at least $2.9 billion.

Abraxis BioScience, Inc. is a biotechnology company that deals in the development and sales of treatments for cancer and other illnessesses.  The company’s main product is Abraxane, a form of chemotherapy used in the treatment of breast cancer.

Abraxis Looks Promising in Lung Cancer War (ABII)

March 17, 2010 · Filed Under Cancer, fda · Comment 

Abraxis BioScience, Inc. (NASDAQ: ABII) is one of the top biotech gainers this morning.  The company announced that its key ABRAXANE met the primary endpoint in a Phase 3 trial for advanced non-small cell lung cancer.

The company’s randomized Phase 3 clinical trial comparing ABRAXANE, the company’s protein-bound paclitaxel, along with with a Taxol injection, in combination with carboplatin met the study’s primary endpoint.  ABRAXANE showed a significant improvement in overall response rate compared to Taxol alone as a first-line treatment for advanced non-small cell lung cancer patients.

The 1,052 enrolled patient study as of July 2009 was at 102 centers.  The company noted that NSCLC is 85% of lung cancer diagnosis and noted that more than 200,000 are diagnosed with lung cancer each year with about 159,000 deaths per year.

The study was assessed by independent radiologist review and is the subject of a special protocol assessment with the FDA.  Abraxis further noted that the design, clinical endpoints and statistical data and analysis have been previously agreed upon by the FDA.  In that regard it said that the FDA agreed that the demonstration of a statistically superior response rate of the ABRAXANE and carboplatin combination over the Taxol and carboplatin combination is sufficient for the company to submit a supplemental new drug application for approval of ABRAXANE in combination with carboplatin as a first-line treatment of advanced non-small cell lung cancer.

Abraxis is surging.  Shares opened at $46.45 this morning after a $39.85 close yesterday.  The stock has run further and is now up almost 28% at $50.95 on the day.  The problem here is that volume is very thin despite a $2 billion market cap. The 52-week high is $57.60.  The company is also under-followed by Wall Street and that makes information less reliable or less covered by investors.

Today will b a near-term volume record if it continues.  There has only been one day this calendar 2010 where it had 300,000 shares or more trade.  In 2009, its most active day was 240,000 shares.

JON C. OGG

Full 2009 ASCO Cancer & Oncology Primer (ABII, AEZS, ALTH, AMGN, APPA, ARQL, BMY, CLDX, CELG, CTIC, CGRB, LLY, EXEL, GHDX, GSK, IMGN, MEDX, MDVN, MITI, OGXI, OSIP, PPHM, PFE, ROSG, SNTA, TRBN, ZIOP, ZGEN)

May 27, 2009 · Filed Under Cancer, dendreon, R&D · Comments Off 

We have already seen a massive round of abstracts ahead of the huge American Society of Clinical Oncology, or ASCO meeting for 2009, which is scheduled to start this weekend.  ASCO is usually thought of as the Holy Grail of cancer conferences and these abstracts and presentations are viewed by investors, analysts, clinicians, doctors, and by cancer patients.

We compiled a brief synopsis for the following drug and biotech companies: Abraxis BioScience, Inc. (NASDAQ:ABII), AEterna Zentaris Inc. (NASDAQ: AEZS), Allos Therapeutics, Inc. (NASDAQ: ALTH), Amgen Inc. (NASDAQ: AMGN), A.P. Pharma, Inc. (Nasdaq: APPA), Arqule Inc. (NASDAQ: ARQL), Bristol-Myers Squibb (NYSE: BMY), Celldex Therapeutics (NASDAQ: CLDX), Celgene Corporation (NASDAQ: CELG), Cell Therapeutics (NASDAQ: CTIC), Cougar Biotechnology, Inc. (NASDAQ: CGRB), Eli Lilly and Company (NYSE: LLY), Exelixis (NASDAQ: EXEL), Genomic Health, Inc. (NASDAQ: GHDX), GlaxoSmithKline (NYSE: GSK) , Immunogen (NASDAQ: IMGN), Medarex (NASDAQ: MEDX), Medivation, Inc. (NASDAQ: MDVN), Micromet, Inc. (NASDAQ: MITI), OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI), OSI Pharmaceuticals (NASDAQ: OSIP), Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), Pfizer Inc. (NYSE: PFE), Rosetta Genomics (NASDAQ:ROSG), Synta Pharmaceuticals (NASDAQ: SNTA), Trubion Pharmaceuticals, Inc. (Nasdaq: TRBN), ZIOPHARM Oncology (NASDAQ: ZIOP), and ZymoGenetics, Inc. (NASDAQ: ZGEN).

Be advised that some of the data may have been changed since the first abstracts came out, but this is an expansive list of companies with data.
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ASCO's Pre-Abstract Previews (ABII, ALTH, ARQL, CLDX, CTIC, CGRB, LLY, EXEL, GHDX, GSK, IMGN, MEDX, MDVN, OGXI, OSIP, PPHM, PFE, SNTA, ZIOP)

May 14, 2009 · Filed Under Cancer, daily, dendreon, General · Comments Off 

The first massive round of abstracts ahead of the huge American Society of Clinical Oncology, or ASCO meeting for 2009, is due out 6:00PM EST.  This is thought of as the Holy Grail of cancer conferences and these abstracts are being picked apart all night by hundreds of investors, analysts, clinicians, doctors, and even by cancer patients.  We have brief data here for the following biotech and drug companies, and you can bet there will be more than this: Abraxis BioScience, Inc. (NASDAQ:ABII), Allos Therapeutics, Inc. (NASDAQ: ALTH), Arqule Inc. (NASDAQ: ARQL), Celldex Therapeutics (NASDAQ: CLDX), Cell Therapeutics (NASDAQ: CTIC), Cougar Biotechnology, Inc. (NASDAQ: CGRB), Eli Lilly and Company (NYSE: LLY), Exelixis (NASDAQ: EXEL), Genomic Health, Inc. (NASDAQ: GHDX), GlaxoSmithKline (NYSE: GSK) , Immunogen (NASDAQ: IMGN), Medarex (NASDAQ: MEDX), Medivation, Inc. (NASDAQ: MDVN), OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI), OSI Pharmaceuticals (NASDAQ: OSIP), Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), Pfizer Inc. (NYSE: PFE), Synta Pharmaceuticals (NASDAQ: SNTA), and ZIOPHARM Oncology (NASDAQ: ZIOP).

Be advised that there may be new data from many of these companies between now and the May 29 to June 2, 2009 meeting in Orlando, Florida.  We have already compiled a pre-ASCO cheat sheet to get in ahead of some of these abstracts, and the brief notes are as follows:
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