ASCO Again Aims to Plug Information Leak

The American Society of Clinical Oncology is taking new and somewhat draconian steps to eliminate the leaking of market-moving research abstracts prior to its all-important annual meeting in late May.

The leaking of ASCO research abstracts in advance of the well-attended cancer research meeting -- and the dissemination among Wall Street's institutional investors -- has skyrocketed over the last several years. This so-called "ASCO effect" has led to wild fluctuations in the stocks of biotech and drug companies as investors learn how experimental cancer drugs are faring in clinical studies.

Bowing to the spirit of Regulation Fair Disclosure, ASCO on Friday announced a new, get-tough policy: Research abstracts will not be available until the first day of its annual meeting on Saturday, May 31, reversing a long-held policy giving organization members an early peek at abstracts. ...