Shares of oncology-focussed US biotech Tesaro (Nasdaq: TSRO) skyrocketed 113% to $79.30 by midday on Wednesday after the company said its investigational drug niraparib slowed the growth of ovarian tumors.
The company said it plans to file approval for niraparib with both the US Food and Drug Administration and the European Medicines Agency in the fourth quarter of 2016.
Assuming the drug gets regulatory approval, analysts at Leerink have estimated that sales of niraparib could reach $323 million in 2018 and exceed $1 billion in 2021. Other analysts said the data increased the probability of niraparib being used as a first-line treatment for ovarian cancer and BRCA-related breast cancer."The data was even better than our bullish expectations," said Mizuho Securities analyst Eric Criscuolo.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze