Pfizer Leukemia Drug Meets Primary Endpoint In Phase III

Pfizer Inc. (NYSE:PFE) and partner Avillion LLP announced that a phase III study (BFORE) evaluating its marketed drug Bosulif in the first-line setting met the primary endpoint.

Results from the BFORE study demonstrated superiority of Bosulif (bosutinib) over Glivec for the first-line treatment of patients suffering from chronic, accelerated or blast phase Philadelphia chromosome-positive (Ph+) chronic myelogenous leukemia (CML).

Bosulif is already approved for the treatment of Ph+ CML in adults who are resistant or intolerant to prior therapy.

Note that post Trump’s victory in the Presidential race, Pfizer’s shares gained 5.3%, comparing favorably to a decline of 1.5% for the Zacks classified Large Cap Pharma industry

The study met the primary endpoint of major molecular response at 12 months and no new or unexpected safety issue was identified.

This marks an important milestone for Pfizer’s emerging hematology portfolio given that the company is focused on developing new treatments for acute and chronic hematologic malignancies.

Based on the latest results, Pfizer is working with the FDA and other regulatory authorities for an approval of Bosulif for Ph+ CML patients in the first-line setting.

We note that Pfizer and Avillion entered into an exclusive collaborative development agreement in 2014 for the BFORE trial. Under the terms of the agreement, Avillion was responsible for funding and conducting the trial. If approved for this indication, Avillion will be eligible to receive milestone payments from Pfizer, while Pfizer retains all rights to commercialize the product globally.

Pfizer currently carries a Zacks Rank #3 (Hold).

PFIZER INC Price and Consensus

Stocks to Consider

Some better-ranked stocks in the healthcare sector include Anika Therapeutics (NASDAQ:ANIK) , Athersys, Inc. (NASDAQ:ATHX) and Arbutus Biopharma Corporation (NASDAQ:ABUS) . Anika and Athersys sport a Zacks Rank #1 (Strong Buy), while Arbutus carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Anika’s earnings estimates increased from $1.96 to $2.06 for 2016 and from $2.03 to $2.09 for 2017 over the last 60 days. The company posted a positive surprise in the four trailing quarters with an average beat of 33.14%. Its share price has gained 24% year to date.

Athersys’ loss estimates narrowed from 23 cents to 18 cents in 2016 while that for 2017 remained unchanged over the last 60 days. The company posted a positive surprise in all of the four trailing quarters with an average beat of 110.52%. Its share price has gained 56.3% year to date.

Arbutus’ loss estimates narrowed from $2.15 to $1.74 for 2016 and from $1.96 to $1.51 for 2017 over the last 60 days. The company posted positive surprises thrice in the four trailing quarters with an average beat of 59.31%.

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