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.
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
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.
The company has made at least 4 acquisitions in the space, and few people have paid any attention.
VIDEO ON MSN MONEY
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.