Erbitux may also be an option as a standalone treatment for head and neck cancer patients who have exhausted all other medical options. Merck KGaA, the German drugmaker and ImClone's European partner, will be presenting midstage clinical data at ASCO investigating Erbitux's use as a monotherapy in these so-called refractory head and neck cancer patients.
ImClone is holding an investor meeting Sunday night, at which analysts are guaranteed to ask company executives about their regulatory strategy vis a vis Erbitux and head and neck cancer. If ImClone does seek a label expansion from the FDA, and approval is awarded, ImClone would receive a $250 million milestone payment from partner Bristol-Myers Squibb.
ImClone shares closed Friday at $72.49, down 47 cents, or 0.64%, while Bristol-Myers finished at $25.47, down 30 cents or 1.19%.