) plummeted 24.75% to close the trading session on Dec 23, 2013
at $28.37 per share. The plunge followed the failure of TESARO's
oncology candidate rolapitant to demonstrate statistical
significance with respect to the secondary endpoints in two phase
III studies (one in patients receiving moderately emetogenic
chemotherapy and the other in patients receiving highly
emetogenic chemotherapy). The candidate is being developed to
prevent chemotherapy-induced nausea and vomiting (CINV).
TESARO said in its press release that the candidate
successfully met the primary endpoints of a complete response (no
vomiting in the absence of rescue medication) during the 24-120
hour period after chemotherapy in both the studies. TESARO still
intends to seek U.S. approval for the candidate in the CINV
indication in mid 2014. Another phase III study on rolapitant in
cancer patients receiving highly emetogenic chemotherapy is
Secondary endpoints in both the phase III studies included
complete response in the acute (first 24 hours) and overall
(0-120 hours) phases and the rate of no significant nausea. As
per the top-line results announced, statistical significance was
not demonstrated in any of the mentioned secondary end
The CINV market includes
Merck & Co. Inc.
) Emend which like rolapitant is a neurokinin-1 (NK-1) receptor
antagonist. The failure of rolapitant to treat CINV effectively
in the acute and overall phases is a dampener in our view.
We believe investor focus will remain on the detailed results
from the three studies of the rolapitant program to determine
more accurately whether the candidate offers any advantage over
Merck's marketed CINV therapy.
TESARO, a biopharmaceutical company, carries a Zacks Rank #3
(Hold). Some better-ranked stocks in the biopharma space are
). Both stocks carry a Zacks Rank #1 (Strong Buy).
JAZZ PHARMACEUT (JAZZ): Free Stock Analysis
MERCK & CO INC (MRK): Free Stock Analysis
TESARO INC (TSRO): Free Stock Analysis Report
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