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Health and Healthcare

Hematology Meeting to Give Biotechs Boost Today

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By Douglas A. McIntyre Published
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by H.S. Ayoub
BioHealthInvestor.com

Monday looks to be a great day for biotech stocks as this past weekend saw a flurry of news releases announcing clinical trial data and results at the 48th annual meeting of the American Society of Hematology (ASH), which is taking place from December 9 through 12 in Orlando, Florida.

At the forefront of the excitement on Saturday was Amgen (AMGN) as the company announced that patients suffering from anemia of cancer showed a hematopoietic response after being administred with Aranesp in a phase II trial.

Not to be outdone Biogen Idec (BIIB) announced on Sunday that data from its phase I/II study investigating the use of its anti-CD23 antibody, lumiliximab, with common therapy in patients with progressive Chronic Lymphocytic Leukemia (CLL) supported further development.

Sunesis Pharmaceuticals (SNSS) announced that preliminary phase I results showed its lead compound, SNS-595, was tolerated and had positive clinical activity in patients suffering from Acute Myeloid Leukemia (AML).

Ariad Pharmaceuticals (ARIA) presented pre-clinical results of its kinase inhibitor AP24534, as it was shown to inhibit the Bcr-Abl-T315I mutant, found in 25% of Chronic Myeloid Leukemia (CML). Novartis’s (NVS) nilotinib and Bristol-Myers Squibb’s (BMY) dasatinib have no effect on this particular genetic mutant of CML.

Bioenvision (BIVN) used no less than 7 posters to illustrate the latest data from its clofarabine clinical trials treating acute leukemias in both children and adults.

Osiris Therapeutics (OSIR) also provided an update through a poster presentation. Data from its phase II trial evaluating PROCHYMAL for the treatment of acute Graft vs. Host Disease showed that patients were twice as likely to recover from the condition, and the 120 day survival rate was 90%.

Look for these companies and biotech stocks in general to have a positive day today.

http://www.biohealthinvestor.com/.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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