shares got a boost Friday after the biotech company announced plans to seek regulatory approval for its proposed prostate cancer drug, Provenge, later this year.
Results from a late-stage study of the drug are slated to be published in next month's
Journal of Clinical Oncology
, the company announced after Thursday's market close. Dendreon's drug application would be based on a phase III study of men with a type of asymptomatic, metastatic prostate cancer. According to the study, those receiving Provenge survived a median of 4.5 months longer than patients receiving a placebo. Dendreon shares were recently trading up 45 cents, or 10.4%, to $4.78.
received regulatory approval for its vision-loss drug Lucentis.
The drug, intended to treat wet age-related macular degeneration, had been touted among some eye specialists based on a number of clinical trials showing the drug's efficacy, including one that was a head-to-head comparison with an already approved treatment for that indication,
Visudyne. Genentech shares were recently up $2.74, or 3.4%, to $82.87.
shares rose 10.8% Friday after the company announced it received an
approvable letter from the Food and Drug Administration for the drug Fentora, a treatment for patients with moderate to severe cancer pain.
The FDA sends a company an approvable letter when a drug can be approved, pending the clarification of certain information or the submission of additional data. "FDA has indicated that no additional safety or efficacy data are required and that the labeling has been essentially finalized," Cephalon said. The company intends to submit a response to the agency by the end of July, and the FDA is expected to complete its review within 60 days. Shares were up $5.84, to $60.10.
Shares of cancer drug developer
rose 13% Friday after an upgrade by Banc of America Securities. Earlier this month, Onyx and its partner
received fast-track designation for its proposed liver cancer treatment Nexavar. Onyx shares were recently trading up $1.95, to $17.01.
Other big movers on Friday include managed care services company
, down 6.7% to $4.05; and drug developer
, whose shares fell 5.9% to $6.21.
Shares of specialty pharmaceutical company
were up sharply, by 7.9% to $16.61; and
shares were up 9.4% to $12.78.