Canaccord Biotech Meeting Takeaways Part I: ANAC, AVEO & EXEL
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Price: $10.19 --0%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Biotech Meeting Takeaways Part I
Analyst, George Farmer, held a series of meeting with biotech management in San Francisco. Some highlights points from the meetings include:
Anacor Pharmaceuticals (Nasdaq: ANAC)(BUY): Timelines remain intact for top-line data read out by year-end from the first Phase III trial evaluating lead asset tavaborole for treatment of onychomycosis (toenail fungus). Data from two small Phase II studies enrolling mild-moderate plaque psoriasis drug candidate, AN2728, should be mature this quarter and will inform design of two Phase III trials expected to start in serial mid-year.
AVEO Pharmaceuticals (Nasdaq: AVEO)(BUY): Although the stock sold off significantly after report of positive top-line results from the Phase III TIVO-1 study evaluating lead asset tivozanib (t-nib) as front-line treatment of metastatic renal cell carcinoma (RCC), management indicates that full result presentation will not disappoint.
Exelixis (Nasdaq: EXEL)(HOLD): Other than NDA filing for cabozantinib in medullary thyroid cancer, which neither we nor the Street, we believe, sees as a significant value driver for the stock, we see no meaningful catalysts for EXEL stock this year.
Analyst, George Farmer, held a series of meeting with biotech management in San Francisco. Some highlights points from the meetings include:
Anacor Pharmaceuticals (Nasdaq: ANAC)(BUY): Timelines remain intact for top-line data read out by year-end from the first Phase III trial evaluating lead asset tavaborole for treatment of onychomycosis (toenail fungus). Data from two small Phase II studies enrolling mild-moderate plaque psoriasis drug candidate, AN2728, should be mature this quarter and will inform design of two Phase III trials expected to start in serial mid-year.
AVEO Pharmaceuticals (Nasdaq: AVEO)(BUY): Although the stock sold off significantly after report of positive top-line results from the Phase III TIVO-1 study evaluating lead asset tivozanib (t-nib) as front-line treatment of metastatic renal cell carcinoma (RCC), management indicates that full result presentation will not disappoint.
Exelixis (Nasdaq: EXEL)(HOLD): Other than NDA filing for cabozantinib in medullary thyroid cancer, which neither we nor the Street, we believe, sees as a significant value driver for the stock, we see no meaningful catalysts for EXEL stock this year.
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