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Genentech Gets to Show Off Avastin Numbers

 

Editor's note: Adam Feuerstein's coverage of this weekend's ASCO conference will be featured on both RealMoney and TheStreet.com. However, Adam's follow-up analysis and regular biotech commentary appear exclusively on RealMoney. If you're not a regular RealMoney subscriber and are interested in reading more about this sector, please click here for a free trial.

CHICAGO -- How much confidence does Genentech (DNA Quote) have in its new cancer drug Avastin? Enough to sponsor bus shelter ads around town, crowing about the arrival, after years of setbacks, of a drug that cuts off the blood supply to tumors.

"It's about time," the bright outdoor ad shouts. "Anti-angiogenesis: ASCO 2003."

Anti-angiogenesis -- the technical term for the process in which a drug blocks the formation and growth of new blood vessels to tumors -- finally appears to be a reality. Today, Genentech took the wraps off results from a phase III study that shows Avastin, when used in combination with chemotherapy, greatly improves survival for patients with metastatic colon cancer. ...

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