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Genentech's Avastin Gets Fast-Track FDA Status

The cancer drug gets six-month expedited review.



Avastin winning streak continued Thursday when the Food and Drug Administration granted the experimental cancer drug so-called "fast-track" review.

The status grants the drug expedited six-month review in which the FDA will receive trial data as it becomes available rather than at the conclusion of a study. Genentech's stock doubled last month when a phase III trial showed Avastin, which works by targeting growth factors in cancer tumors, was effective in slowing the disease's progression in combination with chemotherapy.

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The company said it will meet with the FDA to determine the appropriate information needed for a biological license application submission.

Genentech, of South San Francisco, Calif., was recently up $2.20, or 3%, to $74.95.