Kura shares soar on positive PhII cancer data; M&A buzz revolves back to AstraZeneca
⇨ Investors are in an enthusiastic mood when it comes to anything that looks positive on the cancer drug development side of things. Today Kura Oncology benefited from that exuberance, with its stock price up 70% this morning after the biotech reported that its cancer drug tipifarnib hit the primary endpoint in a Phase II trial. The trial protocol requires four confirmed, partial responses, per RECIST 1.1 criteria, out of 18 patients to meet its primary endpoint. “We have observed rapid and, in some cases, dramatic responses in patients with relapsed and/or refractory HNSCC who do not appear to benefit from other therapies,” said Antonio Gualberto, the CMO at Kura.
⇨ Boehringer Ingelheim and the Danish biotech Gubra announced a collaboration and license agreement for the development of novel peptide compounds to treat obesity.
⇨ In the latest M&A buzz to circulate AstraZeneca, still on the ropes after the first-round blow out on its Imfinzi/tremelimumab combo, is once against interested in buying Acadia. It’s all pure speculation though.