Spectrum Shares Surge on Data for Lung Cancer Drug -- Biotech Movers

 | Oct 18, 2017 | 9:29 AM EDT
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Shares of Spectrum Pharmaceuticals Inc. (SPPI) jumped 34.7% to $19.47 ahead of the market open on Wednesday, Oct. 18, on interim data from a Phase 2 study of poziotinib in EGFR exon 20 mutant non-small-cell lung cancer.

The Henderson, Nev.-based company said the data, which were presented at the 18th IASLC World Conference on Lung Cancer in Japan, showed an objective response rate of 73%.

Meanwhile, shares of FibroGen Inc. (FGEN) rose 3.9% to 57.45 after the China Food and Drug Administration accepted the company's new drug application for registration of roxadustat (FG-4592), a potential treatment for anemia in dialysis-dependent CKD (DD-CKD) and non-dialysis-dependent CKD (NDD-CKD) patients.

The submission of the NDA triggers a $15 million milestone payment by AstraZeneca plc (AZN) to FibroGen.

Among the other biotech stock movers was Halozyme Therapeutics Inc. (HALO) , up 3.9% to $18.43. The San Diego firm said Monday it has started a clinical study of PEGPH20 with atezolizumab (Tecentriq), an anti-PDL1 cancer immunotherapy from Roche Group's Genentech, in patients with previously untreated, unresectable, locally advanced, or metastatic cholangiocarcinoma and gallbladder adenocarcinoma.

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