An ear­ly SITC los­er: Five Prime shares crushed as an­a­lysts fret over a snap­shot on lead drug da­ta

Shares of Five Prime Ther­a­peu­tics $FPRX were crushed on Tues­day as word spread about their ab­stract re­leased ahead of the So­ci­ety for Im­munother­a­py of Can­cer meet­ing this week­end de­tail­ing the first snap­shot of da­ta on a small group of pan­cre­at­ic can­cer pa­tients treat­ed with cabi­ral­izum­ab and Op­di­vo.

In what turned out to be a nasty sur­prise for an­a­lysts, the ab­stract de­tailed an ob­jec­tive re­sponse rate of 10%, with three par­tial re­spons­es and a 6-month dis­ease con­trol rate of 13%. But the back­lash al­so cen­tered on the trou­bling safe­ty da­ta among 205 pa­tients with sol­id tu­mors, with a 43% rate of Grade 3 to 5 (death) ad­verse events in the study which trig­gered a dis­con­tin­u­a­tion rate of 13%.

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