Look back at pharma news in the week to August 20, 2021
Last week’s notable news included US cancer drug developer Sesen Bio being battered after it revealed that the US Food and Drug Administration had issued a compete response letter (CRL) relating to its bladder cancer candidate Vicineum. AbbVie announced new clinical trial results on the efficacy of its investigational migraine prevention treatment atogepant. FibroGen and Japanese partner Astellas said they had been granted approval in Europe for their drug Evrenzo (roxadustat) as a treatment for chronic kidney disease, and UK pharma major AstraZeneca released new data on its antibody therapy for COVID-19, AZD7442.
Sesen Bio’s corporate spin amounts to nothing
It is often said that biotech investors should take corporate announcements trumpeting positive FDA interaction with a pinch of salt, commented Jacob Plieth writing on Evaluate Vantage. Last Friday Sesen Bio reminded the markets that this still holds true as it was slapped with a complete response letter for its lead asset, Vicineum.
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