Astex Pharmaceuticals, Inc. (ASTX), GlaxoSmithKline plc (ADR) (GSK), Cytokinetics, Inc. (CYTK): Last Week in Biotech

To add, on Friday the FDA posted its briefing documents for Anoro Ellipta, the inhaled COPD drug developed in collaboration with GlaxoSmithKline plc (ADR) (NYSE:GSK) that’s currently under review by the FDA. The briefing documents alluded to strong efficacy at both doses that the companies are trying to gain new drug approval for. Needless to say with the FDA panel meeting scheduled for Tuesday, current shareholders have to be holding their head high.

But, it wasn’t all peaches and cream for the biotech sector — even GlaxoSmithKline plc (ADR) (NYSE:GSK)!

On Thursday, GlaxoSmithKline plc (ADR) (NYSE:GSK) announced that the first of two primary co-endpoints in its melanoma cancer vaccine immunotherapy trial involving MAGE-A3 failed to hit the mark. The first co-primary endpoint was to extend disease-free survival in patients, which it failed to do. The independent data monitoring committee, however, is letting GlaxoSmithKline plc (ADR) (NYSE:GSK) continue with its ongoing late-stage study on its second co-primary endpoint which is designed to assess the effect of the vaccine on genetically predisposed patients who may benefit from the therapy. Not all hope is lost, but it’s a sizable blow for a once promising late-stage cancer vaccine.

Finally, this week’s disaster du jour goes to small-cap biotech Cytokinetics, Inc. (NASDAQ:CYTK), which announced underwhelming mid-stage top-line results for its acute heart failure drug omecamtiv mecarbil. The drug, which Cytokinetics, Inc. (NASDAQ:CYTK) has collaborated with Amgen to develop, failed to meet its primary endpoint of a statistical difference in improving dyspnea system response in patients — or in other words, their ability to breathe easier. Like GlaxoSmithKline plc (ADR) (NYSE:GSK), not all hope is lost as Amgen just boosted its collaborative pact on the drug in June with Cytokinetics, Inc. (NASDAQ:CYTK) so it must’ve seen something it liked. However, with the interim data blatantly underwhelming, Cytokinetics, Inc. (NASDAQ:CYTK)’ shares fell about 18% this week.

The article This Week in Biotech originally appeared on Fool.com is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

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