CTIC Set to Resubmit Pixantrone NDA - Analyst Blog
June 16 2011 - 11:00AM
Zacks
Cell Therapeutics (CTIC) recently met with the
Division of Oncology Drug Products (the DODP) of the US Food and
Drug Administration (FDA) and received guidance for resubmission of
the new drug application (NDA) for its lead pipeline candidate
pixantrone. Pixantrone has been developed for the treatment of
relapsed or refractory aggressive non-Hodgkin’s lymphoma (NHL) in
patients who have not responded to other treatment options. The
company is also looking for accelerated approval of the NDA based
on data from the PIX301 study.
The meeting follows the early May decision of the Office of New
Drugs (OND) of the FDA allowing the company to re-submit the NDA
for pixantrone for review without the need for an additional trial.
The OND recommended Cell Therapeutics to conduct an additional
independent radiologic review utilizing a new independent panel of
radiologists of the PIX301 trial (which formed the basis of the
original NDA) to determine the soundness of the primary endpoint.
The company is also required to submit new information regarding
circumstances of stopping trial early. The DODP focused on the
information that Cell Therapeutics proposes to submit and on the
composition of the new radiology expert panel. Cell Therapeutics
also aims to address items noted in the complete response letter
(CRL) issued by the FDA in April 2010.
The CRL for pixantrone was issued due to concerns that PIX301
has not sufficiently proved the effectiveness of the drug. The FDA
asked Cell Therapeutics to conduct an additional trial to determine
the safety and efficacy of Pixantrone. Although the company began
an additional trial for pixantrone (PIX306) in March 2011, Cell
Therapeutics appealed to the OND in December to reverse the FDA’s
decision to deny approval of pixantrone. Cell Therapeutics met with
the FDA OND and presented documents supporting the efficacy of
pixantrone for the desired indication.
The DODP will review the NDA within 6 months of the
resubmission. Cell Therapeutics will resubmit the NDA later in 2011
and anticipates receiving approval in the first half of 2012.
The decision of OND has removed a major overhang for the company
and revived the prospects of pixantrone. The company has been saved
2-3 years time by getting the opportunity to file on the basis of
the original completed trial PIX301 instead of the new trail
PIX306.
Our Recommendation
We currently have a Neutral recommendation on Cell
Therapeutics.
We believe the uncertainty surrounding the approval of Cell
Therapeutics’ lead pipeline candidate pixantrone for aggressive NHL
in the US has eased following the opportunity given by the FDA to
resubmit the NDA. Moreover, the drug is also under review in Europe
and is expected to be approved in 2011. However, we prefer to
remain on the sidelines since Cell Therapeutics is heavily
dependent on the approval of pixantrone. Therefore, any delay in
gaining approval would be a major blow for the company.
Even if pixantrone gains approval it will face tough competition
from several established products in the market. One of the
top-selling drugs for the treatment of NHL is
Biogen/Roche’s (BIIB/RHHBY) Rituxan. Other
competing products include Sanofi Aventis’ (SNY)
Campath, Takeda’s Velcade and Cephalon's (CEPH)
Treanda.
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