This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive
compensation for actions taken through them.
AbbVie Inc. (NYSE: ABBV) saw its shares pull back on Thursday after it reported less than favorable midstage results for its relapsed/refractory small cell lung cancer (SCLC) trial. Specifically, the firm reported Phase 2 data evaluating rovalpituzumab tesirine (Rova-T).
Unfortunately, the firm has decided that it will not pursue accelerated approval of Rova-T in third-line SCLC, based on magnitude of effect across multiple parameters in this single-arm study. This came after consulting with the U.S. Food and Drug Administration.
Note that ongoing Phase 3 studies, MERU and TAHOE, will continue to investigate Rova-T in first-line and second-line SCLC.
In the study, the most common treatment-emergent adverse events were fatigue (38%), photosensitivity reaction (36%), pleural effusion (32%), edema peripheral (31%), decreased appetite (30%), nausea (26%), dyspnea (25%), thrombocytopenia (25%), constipation (22%), vomiting (17%), anemia (17%), hypoalbuminemia (16%), and cough (16%). Grade three and higher severe toxicities ≥5% were thrombocytopenia (11%), photosensitivity reaction (7%) and pleural effusion (5%).
Mike Severino, M.D., executive vice president of research and development and chief scientific officer of AbbVie, commented:
We continue to believe Rova-T has potential for patients with small cell lung cancer and other DLL3-expressing cancers. Although the results from the study were not what we hoped for, we look forward to receiving data from the ongoing Phase 3 studies in the first- and second-line settings and remain committed to developing Rova-T for the treatment of patients with small cell lung cancer.
Shares of AbbVie were last seen down 11% at $99.59 on Thursday, with a consensus analyst price target of $125.90 and a 52-week range of $63.12 to $125.86.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.