Onyx Pharmaceuticals (ONXX) said Wednesday that its cancer drug Nexavar extended progression-free survival in a mid-stage study of women with advanced breast cancer.
The announcement helped push Onyx shares up 29% to $37 in pre-market trading.
Nexavar, a pill, is currently marketed as a treatment for kidney and liver cancers. Onyx and its partner, the German drug firm Bayer, have been testing Nexavar in other types of cancer as well.
The phase II study announced Wednesday evaluated treatment with Nexavar and the oral chemotherapy drug Xeloda, marketed by Roche, compared to Xeloda plus placebo.Women with advanced Her-2 negative breast cancer treated with the Nexavar-Xeloda combination demonstrated a lengthening of time before their cancer grew compared to woman treated with Xeloda alone. Onyx said the results were statistically significant although details about the study were being withheld so that they could be presented later at a medical conference. "Based on these encouraging data, Onyx and Bayer are evaluating various strategies for Nexavar in breast cancer," said Dr. Todd Yancey, vice president of clinical development at Onyx. Onyx and Bayer are currently conducting other phase II studies of Nexavar in breast cancer.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV