LXRX Brings Sweet Tidings, PFE’s PROSPER Ahead Of Schedule, XBIT Fails To Excite

Today’s Daily Dose brings you news about Lexicon Pharma’s inTandem3 results; EyeGate’s public offering; Pfizer’s progress, Cellect’s exit from Israeli Exchange and XBiotech’s not so exciting XCITE results.

Read on…

Astellas Pharma Inc. and Pfizer Inc. (PFE) on Friday announced that they have amended the protocol for the phase III trial of XTANDI in patients with non-metastatic Castration-Resistant Prostate Cancer.

The amended protocol allows for a reduction in the target sample size in the phase III study to approximately 1,440, from 1,560 patients. The primary endpoint of the trial, dubbed PROSPER, remains the same – metastasis-free survival.

The companies now anticipate PROSPER top-line results to be disclosed later this year, nearly 2 years ahead of schedule.

XTANDI is approved by the FDA for the treatment of patients with metastatic CRPC, based on clinical studies showing statistically significant overall survival benefit versus placebo. XTANDI, which generates over $2 billion in annual sales, came under Pfizer’s fold, when it acquired Medivation for $14 billion last August.

PFE closed Friday’s trading at $32.77, up 3.21%.

Cellect Biotechnology Ltd. (APOP) has decided to voluntarily delist its shares from trading on the Tel Aviv stock exchange, and the last trading day on that exchange will be September 3, 2017.

The Company will trade its American Depositary Shares, each of which represents 20 ordinary shares, exclusively on the NASDAQ.

The decision to delist from the Tel Aviv exchange was taken as the Company’s board of directors and management believe it will maximize shareholders’ value in the medium and long term.

Commenting on the development, Cellect Chairman, Nuriel Chirich Kasbian said, “Our shareholders will be able to convert their ordinary shares to NASDAQ American Depositary Shares through their bank or broker. The Company will bear the bank or broker’s conversion fees for all shareholders who convert their ordinary shares until July 31st, 2017.”


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