News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

AVEO Oncology (Formerly known as AVEO Pharmaceuticals, Inc.) (AVEO) Drops as Astellas Pharma Inc. (YPH.BE) Will Not Seek Nod for Kidney Cancer Drug



5/24/2013 8:11:03 AM

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

Aveo Pharmaceuticals Inc said it was informed by its partner Astellas Pharma Inc that the Japanese company would not be seeking marketing approval for their experimental kidney cancer drug in Europe. Aveo shares fell about 13 percent in extended trade, after closing at $2.70 on the Nasdaq. They have lost about 55 percent of their value since April 30, when FDA reviewers raised questions about the drug. Astellas does not intend to fund any future studies of the drug, tivozanib, in renal cell cancer, Aveo said in a regulatory filing on Thursday. Aveo is also evaluating tivozanib as a therapy for treating metastatic colorectal cancer and breast cancer.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com
Read at Seeking Alpha

Related News

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES