Zacks Investment Research | Apr 19, 2018 08:55AM ET
Calithera Biosciences, Inc. (NASDAQ:CALA) announced that the FDA has granted Fast Track designation to its lead candidate, CB-839. The candidate is being developed in combination with Exelixis, Inc.’s (NASDAQ:EXEL) Cabometyx (cabozantinib) for the treatment of metastatic kidney cancer.
The FDA grants a fast track designation to expedite a candidate’s development and review, which treats serious and unmet medical conditions. With this designation, a candidate is expected to be granted a priority review once it files a new drug application.
Calithera’s shares have underperformed the industry so far this year. The stock has lost 25.7% compared with the industry’s fall of 0.6%.
Calithera’s CB-839, a selective, potent inhibitor of glutaminase, is being evaluated in a phase II study – CANTATA – in combination with Cabometyx in clear cell renal cell carcinoma (“RCC”) in patients previously treated with at least one vascular endothelial growth factor tyrosine kinase inhibitor or the combination of Bristol-Myers’ (NYSE:BMY) Opdivo (nivolumab) and Yervoy (ipilimumab).
The study is currently enrolling patients and the primary endpoint is improved progression free survival.
Per the press release, there are a number of therapies approved for RCC. However, there still remains a significant unmet need in advanced stage patients who have failed prior systemic therapy.
Kidney cancer is among the top 10 common cancer types globally, per the American Cancer Society. The organization predicts that an estimated 65,340 new patients will be diagnosed with the disease in the United States in 2018. Moreover, 14,970 deaths will be caused due to this cancer.
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.