PeopleImages/iStock via Getty Images The annual gathering of the American Society of Clinical Oncology (ASCO) concluded on Monday in Chicago, IL. Thousands of biotech developers showcased their R&D prowess at the five-day meeting, a major catalyst-generating event in the biotech calendar. This year’s ASCO was a platform for some of the leading cancer developers, such as AstraZeneca ( NASDAQ: AZN ), to consolidate market leadership while others, like Summit Therapeutics ( NASDAQ: SMMT ), came from behind to steal the show.
AstraZeneca ( AZN ), a well-respected developer of cancer drugs, hogged the limelight with two presentations at the ASCO plenary session reserved for research deemed to have the highest potential in oncology. Presenting data from its Phase 3 LAURA trial on Sunday, Astra ( AZN ) said its tyrosine kinase inhibitor Tagrisso, as a late-line option, cut the risk of disease progression or death by 84% in certain patients with lung cancer. In another Phase 3 trial called ADRIATIC, which was also selected for a plenary session, AZN’s PD-L1-targeting immunotherapy Imfinzi (durvalumab) as a single agent reached the dual primary endpoints in small cell lung cancer (SCLC).
The readout will help Astra ( AZN ) build a beachhead in the standard of care for SCLC, distancing itself from Roche ( OTCQX:RHHBY ) ( OTCQX:RHHBF ), which markets Tecentriq (atezolizumab) in combination with chemotherapy for the same indication, Seeking Alpha analyst Galzus Research wrote. From l.
