Acceleron (XLRN) Kidney Cancer Candidate Fails In Phase II
Zacks Investment Research | Jun 14, 2017 03:25AM ET
Acceleron Pharma Inc.’s (NASDAQ:XLRN) stock had gone down earlier and then regained ground by almost 5% after the company announced disappointing top-line results from a phase II DART study evaluating its pipeline candidate dalantercept in combination with Pfizer’s (NYSE:PFE) Inlyta (axitinib) for treatment of advanced renal cell carcinoma (RCC).
Following the disappointing phase II results, the company decided to discontinue further development of the said kidney cancer candidate.
The increase in share price despite failing the phase II study reveals that dalantercept had become a secondary priority for Acceleron, while the company’s primary focus is on the late-stage anemia candidate luspatercept. Shares of Acceleron have outperformed the Zacks classified Medical-Biomed/Genetics industry so far this year. The stock has soared 16% compared with the broader industry’s increase of 2.6%.
We remind investors that Acceleron has a collaboration, license and option agreement with Celgene Corp. (NASDAQ:CELG) for luspatercept.
Presently, Celgene is conducting two phase III study (MEDALIST and BELIEVE) for luspatercept: one for treating patients with lower risk Myelodysplastic syndromes (MDS) and another for the treatment of patients with beta-thalassemia. Results from the studies are expected in mid-2018.
The phase II study was designed to evaluate the safety and tolerability of the combination therapy of dalantercept. The study did not meet the primary end points and was unable to demonstrate a statistically significant increase in progression-free survival (PFS), when treated with dalantercept compared with placebo plus axitinib in advanced RCC patients.
The median PFS for the combination therapy was 6.8 months, versus 5.6 months for placebo. Moreover, dalantercept plus axitinib did not decrease the rate of disease progression or death.
Apart from luspatercept, the company has two other internally discovered therapeutic candidates, currently in clinical trials: sotatercept and ACE-083.
Acceleron expects to initiate a phase II study with ACE-083 in Charcot-Marie-Tooth disease. Previously, the company reported positive data from a phase I study for ACE-083, demonstrating marked increases in muscle-volume, treated with ACE-083.
We expect the investors’ focus to remain on the company’s updates relating to the development of pipeline candidates.
Get The News You Want
Acceleron Pharma Inc. Price
Acceleron Pharma Inc. Quote
Zacks Rank & Key Picks
Acceleron currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the healthcare sector includes VIVUS, Inc. (NASDAQ:VVUS) , which sports a Zacks Rank #1 (Strong Buy). You can see .
VIVUS’s loss per share estimates narrowed down from 50 cents to 39 cents for 2017 in the last 60 days. The company posted positive earnings surprises in all four trailing quarters with an average beat of 233.69%.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.