ASCO: A Biotech Scorecard

Stock quotes in this article: AMGN , PGNX , DNA , EXEL , CELG , MEDX , SNTA  

Synta Pharmaceuticals (SNTA Quote): Melanoma has been a drug development graveyard, but Synta's experimental drug elesclomol has a shot at success. There was additional and positive data presented here from the company's randomized phase II study. It wasn't earth shattering but it does explain and support the dosing and design of the ongoing phase III study, which should have data in early 2009.

Anything melanoma-related is high risk, but Synta conducted a randomized, controlled phase II study that was positive, so on that basis alone, elesclomol deserves at least a look.

Position: None

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Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.

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