Read Zacks_Analysts' blog in RSS
September 30, 2010
Share This
ZymoGenetics, Inc.’s (ZGEN) pipeline received a boost when its cancer candidate Interleukin 21 (IL-21) fared well in a mid-stage study. The open-label, single-arm study evaluated recombinant IL-21 as a monotherapy in patients suffering from metastatic melanoma, a deadly form of skin cancer.
Results from the multi-center phase IIa study, conducted by the NCIC clinical trials group in Canada, revealed that the median overall survival was 12.4 months in patients treated with IL-21. The study, which evaluated the candidate at three dosages, further revealed that 53% of treated patients survived at 12 months.
The study indicated an overall response rate of 23% in the 39 evaluable patients. The median survival was observed to be 4.3 months without the disease worsening. Fatigue, rash, fever, myalgia, anorexia, chills and nausea were the common adverse events observed in the patients evaluated in the mid-stage study. IL-21 is being evaluated in another mid-stage study in melanoma patients.
IL-21 is a protein belonging to a family of cytokines that modify the function of cells in the immune system. The candidate stimulates the immune cells that have the potential to eliminate cancerous or virally infected cells.
We remind investors that ZymoGenetics, headquartered in Seattle, WA, will be taken over by Bristol-Myers Squibb Company (BMY), a global biopharmaceutical company. The deal, which has been approved by the Boards of both companies, has an aggregate purchase price of about $885 million or nearly $735 million excluding ZymoGenetics' cash on hand.
Bristol-Myers’ portfolio will be boosted by the addition of ZymoGenetics’ high-potential bleeding control product Recothrom. Moreover, the promising pipeline candidates at ZymoGenetics will bolster Bristol-Myers’ pipeline, especially for hepatitis C.
Currently, we are Neutral on ZymoGenetics in the long-term, which is supported by a Zacks #3 Rank (short-term Hold rating).
Read the full analyst report on "ZGEN"
Read the full analyst report on "BMY"
Zacks Investment Research