Onyx wins FDA panel's backing for cancer drug

In a unanimous vote, government advisors said the benefits of a treatment for multiple myeloma outweigh the risks.

By Minyanville Jun 21, 2012 1:48PM
Government advisors sent a strong recommendation in favor of Onyx Pharmaceuticals' (ONXX) cancer drug Kyprolis.

In an 11-0 vote, the panel of advisors said the benefits of the drug outweighed the risks for patients with multiple myeloma, a cancer of blood plasma cells.

The vote is a positive step toward Onyx winning U.S. approval for the medicine. The Food and Drug Administration is expected to decide on market clearance for the drug by July 27. The company is seeking approval to sell Kyprolis as a treatment for patients who have already received other therapies.

The advisory panel vote Wednesday followed a report by the FDA's own staff earlier this week that raised serious safety concerns about Kyprolis, which also goes by the chemical name carfilzomib. One panelist abstained from voting.

More from Minyanville
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

114
114 rated 1
280
280 rated 2
473
473 rated 3
639
639 rated 4
637
637 rated 5
662
662 rated 6
640
640 rated 7
498
498 rated 8
287
287 rated 9
121
121 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
COPCONOCOPHILLIPS9
TAT&T Inc9
VZVERIZON COMMUNICATIONS9
KOGKODIAK OIL & GAS Corp9
CVXCHEVRON CORPORATION8
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.