Palm Beach, FL – November 7, 2022 – FinancialNewsMedia.com News Commentary – While there is no cure for pancreatic cancer in the pancreatic cancer treatment market, new treatment options abound, and research is constantly advancing. Pancreatic cancer is 12th the deadliest forms of cancer, with a 5-year survival rate of just 15%. As a result, there is a strong growth momentum in the global pancreatic cancer treatment market. However, in the last few years, the death rate from pancreatic cancer has reduced by 30% with the advent of advanced treatment options. The pancreatic cancer treatment market is expected to expand quickly during the coming years. According to the American Cancer Society, pancreatic cancer makes up roughly 3% of all cancer cases in the United States (ACS). According to the American Cancer Society, 60,431 people had pancreatic cancer diagnoses in 2021. Due to its difficulty in detection, pancreatic cancer typically only becomes known when it has advanced to an advanced stage. Two signs of pancreatic cancer include jaundice and weight loss. Risk factors include having diabetes and being exposed to certain chemicals. Depending on the tumor size, location, and whether it has spread to other bodily areas, a certain treatment may be appropriate. A report from Skyquest projected that the Global pancreatic cancer treatment market was valued at USD 2.61 billion in 2021, and it is anticipated to reach USD 3.78 billion by 2028, at a CAGR of 7.54% over the prediction period (2022 –2028). “The market expansion is primarily the result of businesses restructuring their operations and recovering from the COVID-19 effect, which had previously occurred in restrictive containment measures like social isolation, remote work, and the closure of businesses that created operational difficulties.” Active biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), Clovis Oncology, Inc. (NASDAQ: CLVS), OPKO Health, Inc. (NASDAQ: OPK), Cardiff Oncology, Inc. (NASDAQ: CRDF), Merck (NYSE: MRK).
It continued: “Targeted therapy dominated the market in 2021 and is expected to continue to do so during the forecast period. Targeted therapy occupied the largest share since it is considered as the most effective treatment option, which blocks the growth and spread of cancer cells without damaging healthy cells. The introduction of novel biologic therapies and targeted drugs to reduce the side effects of existing therapies, such as chemotherapy, is one of the factors driving growth.”
Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) BREAKING NEWS: Oncolytics Biotech® Reports Interim Results from Phase 1/2 GOBLET Study Showing a 70% Objective Response Rate in Pancreatic Cancer at the SITC Annual Meeting – Oncolytics Biotech® today reported interim results from the phase 1/2 GOBLET study’s first-line advanced/metastatic pancreatic ductal adenocarcinoma (PDAC) cohort in an abstract published as part of the Society for Immunotherapy of Cancer (SITC) 37th Annual Meeting. The SITC meeting is taking place both virtually and in-person at the Boston Convention and Exhibition Center in Boston, MA, from November 8 – 12, 2022.
As of the abstract’s data cutoff date (July 28, 2022), seven of ten evaluable patients in GOBLET’s PDAC cohort, which evaluates pelareorep in combination with Roche’s anti-PD-L1 checkpoint inhibitor atezolizumab and the chemotherapeutic agents gemcitabine and nab-paclitaxel, achieved a partial response (3 confirmed, 4 unconfirmed as of the cutoff date). An additional two patients achieved stable disease for an ORR and clinical benefit rate of 70% and 90%, respectively. No safety signals were observed with the studied combination.
“The ORR reported in the SITC abstract is remarkably nearly triple the average ORR seen in historical control trials of gemcitabine plus nab-paclitaxel, which is only about 25%,” said Dirk Arnold M.D., Ph.D., Director of Asklepios Tumorzentrum Hamburg, and primary investigator of the GOBLET trial. “Further, PD-(L)1 inhibitors only benefit fewer than one percent of pancreatic cancer patients classified as MSI-high. GOBLET’s interim results, therefore, strongly suggest that pelareorep’s ability to reverse immunosuppressive tumor microenvironments produces synergies when combined with checkpoint inhibition and chemotherapy, leading to vastly improved responses. Given the urgent need for novel therapies in pancreatic cancer, I believe this exciting finding highlights an opportunity for pelareorep to transform the standard of care.”
Dr. Matt Coffey, President and Chief Executive Officer of Oncolytics Biotech Inc., commented, “GOBLET’s interim results represent a crucial clinical milestone, providing robust proof-of-concept in a difficult-to-treat indication. Our next step is to discuss these data with regulatory authorities and potential partners, with the goal of advancing our pancreatic cancer program into a pivotal study. By adding a second near-term registration opportunity alongside our breast cancer program, we have enhanced pelareorep’s value proposition and further de-risked our clinical pipeline. I look forward to discussing the strategic implications of our new data during our earnings call today and to hearing expert perspectives on GOBLET’s results at our key opinion leader webinar next week.” CONTINUED… Read this full press release and more news for ONCY at: https://www.financialnewsmedia.com/news-oncy/
In other ONCY News Today: Oncolytics Biotech® Reports Third Quarter 2022 Financial Results and Recent Operational Highlights – Read the full report at: https://ir.oncolyticsbiotech.com/press-releases
Other recent developments in the biotech industry of note include:
Clovis Oncology, Inc. (NASDAQ: CLVS) recently announced the presentation of data from the TRITON3 Phase 3 trial in men with metastatic castration-resistant prostate cancer with BRCA or ATM mutations. The presentation titled, “TRITON3: A Phase 3 Study of Rucaparib vs. Physician’s Choice of Therapy in mCRPC Associated with Homologous Recombination Deficiency (HRD)” is being presented by Alan H. Bryce, MD, chair of the Division of Hematology and Medical Oncology at the Mayo Clinic and co-principal investigator of the TRITON3 trial during the session titled, “Novel Clinical Trial Updates” at the 29th Annual Prostate Cancer Foundation (PCF) Scientific Retreat.
“We believe that the positive results from TRITON3 further demonstrate the important role that Rubraca may play as a treatment option for men with metastatic castration-resistant prostate cancer associated with homologous recombination deficiency. This is the first and only PARP inhibitor that has demonstrated superior radiographic PFS compared to a control arm containing docetaxel chemotherapy, which is today the standard of care for these patients,” said Patrick J. Mahaffy, President and CEO of Clovis Oncology. “We look forward to submitting additional data for presentation during a medical meeting in 2023.”
OPKO Health, Inc. (NASDAQ: OPK) recently announced that it plans to report operating and financial results for the three and nine months ended September 30, 2022 after the close of the U.S. financial markets on Tuesday, November 8, 2022. OPKO’s senior management will provide a business update and discuss financial results as well as provide financial guidance during a conference call and live audio webcast on November 8th beginning at 4:30 p.m. Eastern time.
Cardiff Oncology, Inc. (NASDAQ: CRDF), a clinical-stage biotechnology company leveraging PLK1 inhibition to develop novel therapies across a range of cancers, recently announced plans to conduct a randomized Phase 2 trial of onvansertib in combination with standard-of-care (SoC) FOLFIRI/bevacizumab in second-line RAS-mutated mCRC, durability of responses from its ongoing Phase 1b/2 clinical trial in KRAS-mutated mCRC and additional business updates.
“We designed our next clinical program in mCRC, a randomized Phase 2 trial we have named ONSEMBLE, to accelerate and de-risk our lead indication,” said Mark Erlander, PhD, chief executive officer of Cardiff Oncology. “Chief among ONSEMBLE’s objectives is to generate a randomized dataset to demonstrate the contribution of onvansertib over standard-of-care alone, validating the Phase 1b/2 trial results. These results show patients with different KRAS mutations experiencing durable responses to treatment with onvansertib plus standard-of-care, with an objective response rate and median progression-free survival that are well above historical benchmarks. In line with the FDA’s Project Optimus initiative, the ONSEMBLE trial will also seek to confirm the optimal dose of onvansertib in mCRC. We believe achieving these objectives could position onvansertib for a possible accelerated approval opportunity, though this would ultimately depend on the strength of the ONSEMBLE trial results.”
Veeva Systems (VEEV) recently announced a ten-year strategic partnership agreement with Merck (NYSE: MRK), known as MSD outside of the United States and Canada, that builds on the existing 12-year partnership between the companies. Under the terms of the agreement, Merck will take a Veeva-first approach to new industry-specific software and data, selecting Veeva products when they are fit for purpose to maximize the value of Veeva’s integrated, cloud-based platform and products. Veeva will provide Merck with a strategic pricing approach and Merck will have input into Veeva’s product roadmap. The partnership helps accelerate Merck’s digital strategy and makes it more efficient for Merck to evaluate, purchase, operate, and create value from Veeva products and services.
“Transforming our digital, data, and analytics capabilities is integral to enabling our global colleagues to deliver on our purpose of using the power of leading-edge science to save and improve lives around the world,” said Robert M. Davis, chief executive officer and president, Merck. “Our strategic partnership with Veeva expands our capacity to leverage innovative technology and enhances our ability to deliver value to patients and all our stakeholders – this is key to how we measure success.”
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