Pfizer nabs colorectal cancer OK for Braftovi; Bristol Myers, Pfizer pull out of regional deal with Portola
→ Ten months after Array showed off the positive BEACON-CRC data that enticed Pfizer to write a $11.4 billion buyout check, the pharma giant has officially bagged the OK. Braftovi is now approved (in combination with Erbitux, or cetuximab) to treat BRAF V600E-mutant metastatic colorectal cancer. An estimated 15% of all patients with metastatic colorectal cancer harbor BRAF mutations, which represent a poor prognosis. In a Phase III trial, the targeted therapy induced a median OS of 8.4 months versus 5.4 months for control (p=0.0003).
→ Portola disclosed that Bristol Myers Squibb and Pfizer are walking away from a pact to develop and commercialize one of its anti-anticoagulants in Japan. The collaboration was formed in 2016 with $15 million upfront, before andexanet alfa got on the US market as Andexxa. The drug reverses the blood thinning effects of factor Xa inhibitors, including Bristol and Pfizer’s Eliquis.
→ Rexahn Pharmaceuticals is scuttling a clinical program matching their drug RX-5902 with Merck’s anti-PD1 star Keytruda in metastatic triple negative breast cancer. The two companies announced the alliance back in 2018, as checkpoint combos became one of the most popular pacts in the industry. Rexahn announced the termination of the mid-stage trial in an SEC filing.
→ Shares of Englewood, CO-based Viveve Medical took another tumble Thursday morning after the biotech acknowledged that its tech for improving sexual function in women following vaginal births had flopped. Their therapeutic approach demonstrated the same kind of performance as a sham, sending shares $VIVE down 28%. The failure, which drove shares deeper into penny stock territory, left the company reviewing its “strategic options.”