How OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI) Will Fare In FY2016?

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Biotech Stock News

OncoGenex Pharmaceuticals Inc (NASDAQ:OGXI) reported that it will issue its year end 2016 financial report on February 23, 2017. The company comes in the list of biopharma stocks committed to the commercialization and development of new treatments that address treatment resistance in patients suffering with cancer.

The buzz

OncoGenex’s lead product candidate, OGX-427, is advanced to restrict production of Hsp27, inactivate cancer cells’ defenses and reduce treatment resistance. Hsp27 comes in the group of intracellular protein that safeguards cancer cells by assisting them survive, resulting in resistance and increased aggressive cancer phenotypes.

The potential synergistic activity and single-agent activity of apatorsen with cancer therapies may increase the overall advantages of existing therapies and expand the durability of treatment results, which could lead to more patient survival.

Biotech stocks tend to gain whenever they report positive data from their ongoing clinical trials. It is the same case with OncoGenex as it stock opened in green on Wednesday after the company reported that apatorsen data from two randomized Phase II clinical studies were presented at the ASCO 2017 held from February 16 to February 18, 2017 in Orlando.

Clinical report from trials in prostate and bladder cancers showed apatorsen was well-tolerated and enhanced patient outcomes when given in combination with standard treatments. The Borealis-2™ study assessed apatorsen together with docetaxel cure in 200 subjects with metastatic bladder cancer whose ailment had progressed after first-line platinum-based chemotherapy. The main endpoint analysis fulfilled the superiority test for complete survival, conducted at a 1-sided 0.10 significance level utilizing a stratified log-rank test.

Subjects who obtained apatorsen treatment witnessed a 20% decline in risk of death, versus subjects getting docetaxel alone. Complete or partial responses happened in 16.2% subjects receiving docetaxel plus apatorsen compared to 10.9% subjects getting docetaxel only with median response durations of around 6 months versus almost 4 months, respectively.

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