Antigenics Inc. Shares Soar, Reaching a Yearly High (AGEN)

June 4, 2009 · Filed Under General 

Shares of Antigenics Inc. (NasdaqCM: AGEN) soared, reaching a yearly high after the company announced on Monday that its cancer vaccine, Oncophage, significantly prolonged the life of some kidney cancer patients. The market closed on June 3rd with Antigenics Inc. up 1.12 (73.20%), with a final share price of $2.65.

Patients at intermediate risk of disease recurrence treated with Oncophage showed an approximately 46% lower risk of death when treated with the cancer vaccine. Patients in earlier stages of the disease demonstrated a 37% reduction in risk of death.

These results were presented by Christopher G. Wood, M.D., Associate Professor of Urology at M.D. Anderson Cancer Center in Houston, at the annual meeting of the American Society of Clinical Oncology (ASCO). “Demonstration of an overall survival benefit remains the gold standard, and these interim results show that Oncophage has a real promise of improving survival in patients with earlierstage disease for whom current prognosis remains poor.”

Oncophage has been cleared for use in Russia, but is still awaiting approval from the European Medicines Agency (IS THIS CORRECT – MEDICINES) as a treatment for kidney cancer. If approved, it will be the first therapeutic cancer vaccine to receive a marketing license in the European Union.
Antigenics Inc. has not yet filled for marketing approval of the drug in the United States so far.

Company spokesperson, Sunny Uberoi, is quoted, “In Europe, the preference has been to seek out a European partnership. In the United States our strategy at this stage would be to market the product ourselves, if we are approved to treat brain cancer or kidney.”

Shares of Antigenics have risen almost 250% over the last 30 days.
Joshua Sherman

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