AVEO Pharma's (AVEO) Tivozanib Needs Second Trial; Leerink Swann Comments

April 30, 2013 10:44 AM EDT
Get Alerts AVEO Hot Sheet
Price: $0.69 +1.47%

Rating Summary:
    3 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 16 | New: 10
Trade AVEO Now!
Join SI Premium – FREE
Leerink Swann today maintained a Market Perform rating on AVEO Pharmaceuticals (NASDAQ: AVEO). This morning the FDA expressed concern about negative OS trend and requested a 2nd phase III study of Tivozanib.

Commenting, analyst Howard Liang said, "The one voting question we believe appropriately characterizes the dilemma facing the FDA and the committee: 'Given the uncertainty in overall survival, and availability of multiple therapies, is another trial needed to better characterize the risk:benefit profile of tivozanib before approval can be considered?'"

"We believe the tone of the briefing documents and the question posed to the panel are consistent with our prior work, where we were unable to find historical precedent of the FDA approving an agent with a detrimental OS trend. The potential changes in the treatment landscape with the development of anti-PD-1 antibodies in renal cell carcinoma also add to uncertainty," added the analyst.

For an analyst ratings summary and ratings history on AVEO Pharmaceuticals (NASDAQ: AVEO) click here. For more ratings news on AVEO Pharmaceuticals click here.

Shares of AVEO Pharmaceuticals closed at $7.44 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, FDA

Add Your Comment