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Genentech's Avastin Passes Key Safety Test

"If the addition of Avastin to mFOLFOX6 in the adjuvant colon cancer setting demonstrates a significant disease-free survival benefit, it would represent an upside to our current Avastin Estimates," wrote UBS analyst Maged Shenouda, who has a buy rating and a $92 price target on the stock, in a note to investors.

Efficacy data for this trial aren't yet available.

See senior columnist Adam Feuerstein's preview to ASCO abstracts for a guide to more data from biotechnology companies, such as ImClone (IMCL), Amgen (AMGN - Get Report) and Celgene (CELG - Get Report) that were also released late Thursday.

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SYM TRADE IT LAST %CHG
IMCL $5.50 10.00%
AMGN $163.79 -0.03%
CELG $115.90 -0.26%
TSLA $246.52 0.37%
YHOO $43.60 -0.17%

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DOW 18,246.53 -39.21 -0.21%
S&P 500 2,128.08 -2.74 -0.13%
NASDAQ 5,093.5090 +2.7150 0.05%

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