Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) faltered Wednesday following positive data from its lung cancer drug.
Spectrum, based out of Nevada, reported Tuesday that updated poziotinib Phase 2 data in MD Anderson’s EGFR Exon 20 Mutant Non-Small Cell Lung Cancer study are available, based on longer follow-up.
Dr. John Heymach of the University of Texas, reported, "I am pleased to observe the preliminary confirmed objective response rate and potential progression-free survival (PFS) benefit in EGFR Exon 20 Mutant Non-Small Cell Lung Cancer patients.
“"n the first 11 patients, the confirmed objective response rate was 64%. This is very exciting because we were initially hoping to get response rates between 20% and 30%. I am encouraged to see that in these 11 patients, the median PFS has not been reached after a median follow up of 6.5 months.
"In addition, the two most common adverse events observed in the study to date are skin rash and diarrhea, which are known EGFR inhibitor-related toxicities. We are looking forward to presenting comprehensive data from this study at a major medical meeting later this year."
Said Spectrum CEO Joe Turgeon, "The updated data from MD Anderson provides additional insight into just how meaningful poziotinib may be in this area of high unmet need.
“At each turn, the possibility of this drug as an option for EGFR Exon 20 mutant NSCLC patients is becoming more clear.”
Spectrum shares fell 41 cents, or 2%, to $20.35.
