Genentech down on Avastin vote

DNA fell $6.49 to $66.29 on Wednesday after FDA's Oncologic Drugs Advisory Committee voted 5-4 that the company has not demonstrated a favorable risk-benefit ratio for Avastin bevacizumab plus paclitaxel for first-line treatment of metastatic breast cancer. Panel members expressed concerns about the conduct of the trial DNA submitted to support efficacy, and about toxicity associated with the anti-VEGF antibody. ...