genentech reports positive avastin study

This bodes well for PGL & PI-88.


Associated Press
Genentech Reports Positive Avastin Study
Monday November 29, 1:25 pm ET
Genentech, Roche Say' Avastin Study Shows Potential for Expanded Chemotherapy Drug Combinations


NEW YORK (AP) -- Genentech Inc. and Swiss drug maker Roche Holding AG said Monday that a recent study showed their colon cancer drug Avastin significantly extended patient survival when combined with an oxaliplatin-based chemotherapy drug.
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Avastin, already approved by the Food and Drug Administration for use with other chemotherapy drugs, showed a 26 percent reduction in the risk of death when taken with the oxaliplatin-based Folfox4, versus taking Folfox4 alone.

Genentech said it now plans to discuss filing a supplemental application with the FDA for the Avastin-Folfox4 combination.

Shares of South San Francisco, Calif.-based Genentech were up 87 cents, or 1.8 percent, at $49.59 on the New York Stock Exchange after being halted at $48.75 before the news.

The phase III study consisted of 829 patients with advanced colon cancer that had spread to other parts of the body and who had relapsed after receiving other treatments.

The Food and Drug Administration approved Avastin in February for use with 5-fluorouracil-based chemotherapy for previously untreated colon cancer that had spread to other parts of the body. The drug works by interfering with a tumor's blood supply, slowing its growth.

Avastin posted sales of $183 million in the three months ended Sept. 30, up from $133 million during the previous quarter.