AVEO Surges On Favorable Updated OS Results On RCC Drug
Zacks Investment Research | Sep 10, 2019 11:40PM ET
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) announced updated data from the second prespecified analysis of overall survival (OS) in a late-stage TIVO-3 study on its vascular endothelial growth factor (VEGF) tyrosine kinase inhibitor (TKI) Fotivda (tivozanib). The randomized, open-label phase III study evaluated Fotivda for the treatment of patients with highly refractory metastatic renal cell carcinoma (RCC) compared with Bayer (DE:BAYGN) AG’s (OTC:BAYRY) Nexavar (sorafenib).
These results include an OS hazard ratio of less than one, favoring Fotivda. The OS hazard ratio assessed the relative risk of death for the entire data set of 350 subjects.
Shares of AVEO were up nearly 31% following this news on Tuesday. However, the stock has plunged 42.3% so far this year, underperforming the Zacks Investment Research
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