) recently announced that it has regained development and
commercial rights for apaziquone from
). Spectrum Pharma reacquired the rights for apaziquone in the
US, Europe and other territories. In return, the company will pay
Allergan a single-digit royalty on specific products containing
Apaziquone, an anti-cancer agent, is being developed for the
treatment of non-muscle invasive bladder cancer (NMIBC).
Based on discussions with the US Food and Drug Administration
(FDA), the company believes the FDA could accept its new drug
application based on currently available phase III data. The
candidate will most likely be reviewed by an advisory committee
of the agency. As required by the FDA, Spectrum Pharma will
conduct another phase III study on apaziquone.
We note that the two phase III trials that were conducted on
apaziquone did not yield positive results. The trials failed to
meet both the primary and secondary endpoints. However, analysis
of pooled data from both studies showed a statistically
significant improvement in the apiquazone arm in the primary
endpoint of the rate of tumor recurrence at 2 years and time to
recurrence (a key secondary endpoint).
We remind investors that Allergan and Spectrum Pharma had
signed the collaboration agreement in Oct 2008. Spectrum Pharma
had received an upfront payment of $41.5 million.
Spectrum Pharma currently carries a Zacks Rank #3 (Hold).
Meanwhile, other biotech stocks like
Elan Corporation, plc
Biocryst Pharmaceuticals, Inc
) presently looks more attractive. Elan carries a Zacks Rank #2
(Buy), while Biocryst carries a Zacks Rank #1 (Strong Buy).
ALLERGAN INC (AGN): Free Stock Analysis
BIOCRYST PHARMA (BCRX): Free Stock Analysis
ELAN CP PLC ADR (ELN): Free Stock Analysis
SPECTRUM PHARMA (SPPI): Free Stock Analysis
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