BioCentury on BioBusiness,
Analyst Picks & Changes
Analyst picks & changes
Published on
Monday, January 9, 2012
|
Company
|
Bank
|
Analyst
|
Coverage
|
Opinion
|
Wk
chg
|
1/6
cls
|
|
Aveo
Pharmaceuticals Inc. (NASDAQ:AVEO)
|
RBC
Capital Markets
|
Jason
Kantor
|
Other
|
Market
outperform
|
-19%
|
$13.97
|
|
Kantor
reiterated his rating after Aveo reported that oral tivozanib met the primary
endpoint of median progression-free survival vs. Nexavar sorafenib in the
Phase III TIVO-1 trial to treat advanced renal cell carcinoma (RCC) (11.9 vs.
9.1 months) (see B12). Although the results are "positive,"
Kantor said, he believes the Street expected a PFS with tivozanib of at least
13 months. Aveo and partner Astellas Pharma Inc. (Tokyo:4503) plan to
submit regulatory applications for tivozanib in the U.S. and EU this year.
Tivozanib is an inhibitor of VEGF receptors 1, 2 and 3. Bayer AG
(Xetra:BAY) and Onyx Pharmaceuticals Inc. (NASDAQ:ONXX) market
Nexavar.
|
|
BioMimetic
Therapeutics Inc. (NASDAQ:BMTI)
|
Wedbush
|
Gregory
Wade
|
Downgrade
|
Neutral
(from market outperform)
|
-30%
|
$2.00
|
|
Wade
also removed his $14 target after BioMimetic said it received a response
letter from FDA for a PMA for the company's Augment Bone Graft requesting
additional information from a pivotal trial. The agency also asked for more
information related to post-approval studies to monitor the product's cancer
safety, as well as additional pharmacokinetic evaluations in humans. Augment
Bone Graft is a combination of recombinant human platelet-derived growth
factor BB (rhPDGF-BB) and a resorbable synthetic bone matrix. The company is
seeking approval of the product as an alternative to autograft in hindfoot
and ankle fusion procedures. BioMimetic plans to submit an amendment to the
PMA by mid-year (see B10).
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