Progenics Pharmaceuticals, Inc. (PGNX) announced that it has completed patient enrollment in the second cohort of an ongoing phase II study on PSMA ADC for the treatment of prostate cancer. The company enrolled 36 chemotherapy naive patients suffering from prostate cancer, whose disease had progressed after hormonal therapies.
According to The American Cancer Society, approximately 240,000 new cases of prostate cancer are expected to be diagnosed this year with almost 30,000 men likely to die of the disease. Progenics mentioned in their press release that prostate cancer is the second most common form of cancer in the U.S. with approximately one in six men getting diagnosed with the disease in his lifetime.
Meanwhile, the European Medicines Agency (EMA.TO) has accepted Progenics and partner Salix’s (SLXP) filing for Relistor subcutaneous injection. The companies are looking to expand the label for Relistor for the treatment of opioid-induced constipation (:OIC) in adult patients suffering from chronic non-cancer pain. The drug is already approved for the treatment of OIC in advanced-illness patients receiving palliative care when laxative therapy is proved insufficient.
We remind investors that in 2012, the U.S. Food and Drug Administration (:FDA) had issued a complete response letter (CRL) to Progenics and its partner, which were looking to get Relistor approved for the treatment of OIC in adult patients with chronic, non-cancer pain. However, an FDA advisory panel is expected to review the regulatory application shortly.
We expect investor focus to remain on the outcome of the FDA advisory panel.
Progenics holds a Zacks Rank #2 (Buy). Some better-ranked stocks in the healthcare sector are Regeneron Pharmaceuticals, Inc. (REGN) and Vertex Pharmaceuticals Inc. (VRTX). Both stocks carry a Zacks Rank #1 (Strong Buy). Salix also carries a Zacks Rank #1.