November 3, 2005 -- Amgen and Abgenix reported that their cancer drug, panitumumab, improved the progression-free survival of patients suffering from metastatic colorectal cancer. The Phase III trial involved 463 patients who had failed at least one round of standard chemotherapy. Patients who received the drug showed a 33% decline in tumor progression rate as compared to the best supportive care. The news was good for the stock prices of Amgen and Abgenix, but ImClone, which has a competing drug, took a hit. We look at the drug, the test, and company comments in the conference call...
