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Monday, June 10, 2013
At least eight biotechs
gained or lost more than
10% last week after presenting at the American Society of Clinical Oncology
meeting in Chicago. Clovis Oncology Inc. (NASDAQ:CLVS) topped the list
of gainers after announcing Phase I data for two cancer candidates: CO-1686, a
small molecule that inhibits the T790M EGFR mutant and the initial activating
EGFR mutations, and rucaparib (CO-338), an oral inhibitor of poly(ADP-ribose)
polymerase-1 (PARP-1) and PARP-2. Clovis has rights to CO-1686 from Avila
Therapeutics Inc., which was acquired by Celgene Corp. (NASDAQ:CELG),
and has exclusive, worldwide rights to rucaparib
under a 2011 deal with Pfizer Inc. (NYSE:PFE) (see "Finding a
4-Leaf Clover," A18).
Pharmaceuticals Inc. (NASDAQ:INFI) and Synta Pharmaceuticals Corp. (NASDAQ:SNTA) fell
more than 30% after reporting data that raised concerns from analysts and
investors (see "Analyst Picks & Changes," A23).
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