"If the addition of Avastin to mFOLFOX6 in the adjuvant colon cancer setting demonstrates a significant disease-free survival benefit, it would represent an upside to our current Avastin Estimates," wrote UBS analyst Maged Shenouda, who has a buy rating and a $92 price target on the stock, in a note to investors. Efficacy data for this trial aren't yet available. See senior columnist Adam Feuerstein's preview to ASCO abstracts for a guide to more data from biotechnology companies, such as ImClone ( IMCL), Amgen ( AMGN) and Celgene ( CELG) that were also released late Thursday.
Stocks soar as the gross domestic product rises at an annualized rate of 3.5% in the third quarter and continuing jobless claims fall. Gregg Greenberg recaps the action in The Real Story video (above).