Micromet Inc. (MITI) recently presented interim data from a mid-stage trial, which showed that its lead pipeline candidate, blinatumomab produced a high complete remission rate in patients suffering from relapsed acute lymphoblastic leukemia (ALL). The data were presented at European Hematology Association (EHA). Blinatumomub is a one of the leading BiTE antibodies. BiTE antibodies represent a new class of antibodies that activate the T-cells of a patient’s immune system to eliminate cancer cells.
Out of the 12 evaluable patients in the study who had relapsed following standard therapy, 75% achieved the primary endpoint of complete remission (CR) or CR with partial recovery of blood counts (CRh). Moreover, there was no evidence of remaining leukemic cells in blood or bone marrow of these 9 patients. Importantly, four of the nine patients who had genetic abnormalities also met the primary endpoint. Micromet has in the past presented a lot of positive data, which has confirmed blinatumomab’s potential to be used across the course of the disease.
We believe the successful development and commercialization of the candidate blinatumomab will be a major boost for the company as a huge clinical need exists in high-risk front-line ALL patients, and for patients with relapsed refractory ALL.
Relapsed/refractory acute lymphoblastic leukemia is an aggressive cancer of the blood and bone marrow. This disease is difficult to treat and has limited treatment options. No new drug has been approved for the treatment of this disease in the last 30 years. The disease affects 5,760 patients in the US annually.
Our Recommendation
Currently, we have a Neutral stance on Micromet. The stock carries a Zacks #3 Rank (short-term Hold recommendation).
We believe blinatumomab holds tremendous potential in the treatment of ALL. We are pleased with Micromet’s re-acquisition of its blinatumomab rights from MedImmune, a wholly-owned subsidiary of AstraZeneca (AZN), which will enable the company to re-license the drug at more attractive terms. However, we believe that Micromet requires the strength of a large established player to accelerate blinatumomab’s development in order to gain a head-start over potential competitors on approval. We are also concerned about its early stage pipeline. Accordingly, we prefer to remain on the sidelines.
ASTRAZENECA PLC (AZN): Free Stock Analysis Report
Be the first to comment