According to the press release issued yesterday:
“With IV administration, the dosing for Vidaza remains the same as the previously approved subcutaneous [SC] administration at 75 mg/m2 daily, for seven days, every four weeks. Since this approval is for an alternative administration of the existing formulation, Pharmion will begin promoting this IV route of administration immediately.”
The stock rose almost 5% on the news and it at its 52 week high.
PHRM 1-yr chart
As I reported earlier, there are a significant number of catalysts for PHRM expected in 2007 and even though the valuation is high at present, these events should move the stock even higher in 2007. The catalysts expected in 2007 are repeated below.
The filing in Europe for Satraplatin for hormone refractory prostate cancer [HRPC] The filing in Europe for Vidaza for the treatment of high-risk myelodysplastic syndromes [MDS] Data from the randomized controlled Phase 3 survival study for Vidaza in high-risk MDS, which is expected to be complete in the third quarter of 2007 Phase 3 Satraplatin survival data in HRPC Phase 2 Amrubicin data in small cell lung cancer [SCLC] Oral Vidaza bioavailability data Phase 2 MGCD0103 data in a variety of indications Initiation of a pivotal registration trial for MGCD0103 in a hematologic malignancy Initiation of a pivotal registration trial for Amrubicin in second-line SCLC
Disclosure: Author has no position in PHRM.