Shares of Bothell, WA-based OncoGenex Pharmaceuticals soared yesterday after the developer unveiled promising mid-stage data for its prostate cancer drug. The key point that caught investors' attention was an average survival time that was 11 months longer for the patients taking the experimental drug than volunteers taking a standard therapy. OncoGenex shares jumped 76 percent on the news.
The median survival was 27.5 months for the patients in the OGX-011 arm and 16.9 months for those in the control arm, according to researchers. Results indicate that patients in the OGX-011 arm have a death rate approximately 40 percent lower than patients in the control arm. The current results are based on study data with a median follow-up of approximately 30 months for both arms.
OncoGenex was created from the merger of Sonus and Canada's OncoGenex Technologies. The developer now needs to raise funds for a late-stage trial.
- check out OncoGenex's release
- read the story from the Seattle Times