Results of Phase 1a/1b Study of AbbVie's Investigational Medicine Rovalpituzumab Tesirine (Rova-T) Showed Overall Response Rate of 39 Percent in Pretreated Patients with Biomarker-Defined Small Cell L

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Go back to Results of Phase 1a/1b Study of AbbVie's Investigational Medicine Rovalpituzumab Tesirine (Rova-T) Showed Overall Response Rate of 39 Percent in Pretreated Patients with Biomarker-Defined Small Cell L

AbbVie (ABBV) Announces Additional Data on IMBRUVICA Phase 3 in CLL/SLL

June 6, 2016 9:03 AM EDT

AbbVie (NYSE: ABBV) announced longer-term follow-up results from Phase 3 studies of IMBRUVICA (ibrutinib) in chronic lymphocytic leukemia and small lymphocytic lymphoma (CLL/SLL). Findings include an analysis of outcomes from the RESONATETM (PCYC-1112) and RESONATETM-2 (PCYC-1115) trials, which showed IMBRUVICA was associated with favorable progression-free survival (PFS) and overall survival (OS) regardless of line of therapy (previously treated or treatment-naïve; abstract 7520). Other data include first-ever presentation of longer-term follow-up data from the HELIOS (CLL3001) trial showing... More

Cowen Cuts Abbvie (ABBV) to Market Perform; Analyst Calls Rova-T Data at ASCO 'Underwhelming'

June 6, 2016 7:36 AM EDT

(Updated - June 6, 2016 9:21 AM EDT)

Cowen downgraded Abbvie (NYSE: ABBV) from Outperform to Market Perform with a price target of $70 (prior $77). Analyst Steve Scala called Rova-T data at ASCO "underwhelming." Overall, he sees opportunities as balanced.

"Last Fridays analyst meeting was solid, but provided limited news to bolster visibility on the L-T outlook. Rova-T data at ASCO was underwhelming and does not enhance confidence in capital deployment post the $5.8B Stemcentrx acquisition. ABBV stock has been a good performer, despite the recent Humira IPR, offering opportunity to lock in profits. We believe... More