Gutowski added, "While I think this
One more gripe and another red flag:
The buzz over YM Biosciences is all about the company's promising JAK 1/2 inhibitor CYT387 in clinical development for myelofibrosis, a cancer in which abnormal bone marrow stem cells produce scar tissue that replaces healthy marrow. Patients with myelofibrosis suffer from anemia and enlarged spleens.
The big question: Is CYT387 better than rival Incyte's (INCY) JAK 1/2 inhibitor ruxolitinib, also being developed for myelofibrosis?The short answer is we don't know yet, but both companies will be presenting a bunch of data on their respective drugs at the ASCO annual meeting, so stay tuned. The ASCO abstract released Wednesday night related to CYT387's ongoing phase I study didn't cover much new ground but rehashed the impressive anemia response rate of 58% in transfusion-dependent patients that was presented in April. The potential for a superior anemia response is why some people consider CYT387 to be a better drug than Incyte's ruxolitinib, even though the latter is much further ahead. At ASCO, researchers are expected to present more current data from an ongoing, multi-center phase II study of CYT387. If these new data confirm what we've already seen, CYT387's star should rise in the eyes of investors. Incyte will also be presenting new ruxolitinib data at ASCO, mainly from the so-called COMFORT-II phase III study.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV