Nanobiotix shares rocket up on a marginal success for soft tissue sarcoma; AstraZeneca wins pioneering PD-L1 OK in India
→ Shares of Nanobiotix (Euronext: NANO) soared after the biotech reported positive though marginal results for its Phase II/III study of NBTXR3 in soft tissue sarcoma. But the key outcome was not great. Nanobiotix reported that “twice as many patients (16.1% vs 7.9%) achieved a pathological Complete Response (pCR) with NBTXR3 compared to the control arm (p = 0.0448).” That’s barely a passing grade, but investors seemed to like it. The p-value on the secondary was an equally unimpressive 0.042. Its shares rocketed up 50% on the news.
→ The PD-1/L1 drugs are making their way to Asia. Days after Bristol-Myers Squibb scored a landmark approval in China for Opdivo, AstraZeneca says that Indian authorities have cleared Imfinzi for sale. Opdivo was the first of the checkpoints to break into China, and now AstraZeneca gets boasting rights for first mover in India. The news helped drive up the value of its local stock by 5%.