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OncoGenex: Progress in Cancer Treatment

02/11/2014 8:00 am EST


John McCamant

Editor, Medical Technology Stock Letter

One of our recommended biotech stocks provided an interesting surprise by revealing that the final survival results from a Phase III Synergy trial for custirsen in prostate cancer patients has been moved up to a mid-year event from a year-end event, notes John McCamant, in The Medical Technology Stock Letter.

2014 is shaping up to be the most important year for OncoGenex Pharmaceuticals (OGXI), and, we believe, it can very well represent a major inflection point for the company with positive Synergy results.

The firm now has expectations for the primary endpoint events to occur in late Q1 or early Q2, with the final survival results due by mid-year.

The company will follow up the release of this Synergy trial with results from Borealis-1, their Phase II survival trial for apatorsen in 180 bladder cancer patients, in H2:14. These two data events will go a long way towards validating OGXI and their cancer platform.

We also prefer that Synergy will report before Borealis-1—as the latter would have largely been ignored by the Street—and investors are understandably fixated on the Phase III Synergy results.

With Phase II apatorsen results right behind Synergy, we have two significant catalysts occurring for the company this year. It is also important to remember that custirsen is a novel target for treating castrate-resistant prostrate cancer (CRPC) that is differentiated from both of the new androgen-based drugs.

Because there is no cure for CRPC, patients will continue to progress despite the new drugs, leaving a substantial market opportunity for custirsen, as it delivers positive data from the Synergy readout.

OGXI is catalyst-rich in 2014 and substantial upside potential for risk-seeking biotech investors.

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