Dendreon and AEternaZentaris Look for Stronger Performance in 2012
January 05 2012 - 8:16AM
Marketwired
The always volatile biotechnology industry had its share of winners
and losers last year. Overall, the biotech space was up more than 9
percent in 2011, CNBC reports. However several firms struggled
immensely over the last year as disappointing revenues and FDA
disappointments weighed down shares of several biotech companies.
The BedfordReport examines the outlook for companies in the
biotechnology industry and provides investment research onDendreon
Corporation (NASDAQ: DNDN) and AEternaZentaris, Inc. (NASDAQ: AEZS)
(TSX: AEZ). Access to the full company reports can be found at:
www.bedfordreport.com/DNDN
www.bedfordreport.com/AEZS
AEternaZentaris Inc. operates as a late-stage drug development
company specialized in oncology and endocrine therapy. The
Company's pipeline encompasses compounds at all stages of
development, from drug discovery through to marketed products. Last
week the company announced that its Japanese partner, Yakult Honsha
initiated a Phase 1/2 trial in Japan to assess the safety and
efficacy of the Company's PI3K/Akt inhibitor, perifosine, in
combination with chemotherapeutic agent, capecitabine, in patients
with refractory advanced colorectal cancer.
Last month AEternaZentaris had reported encouraging clinical
data for an ongoing Phase 2 clinical study for Perifosine in
patients with refractory/relapsed Hodgkin Lymphoma.
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Shares of Dendreon struggled last year as demand for its $93,000
prostate cancer drug, Provenge, was not as strong as expected.
Last month Dendreon agreed to sell its royalty interest related
to intellectual property licensed to Schering-Plough Ltd. and
Schering Corporation and associated with VICTRELIS (boceprevir), a
treatment for chronic hepatitis C, for $125 million in cash. "The
sale of the VICTRELIS royalty interest allows the Company to
strengthen our cash position, and enables us to further invest in
our core business initiatives," said Greg Schiffman, executive vice
president and chief financial officer
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