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Biotech Stocks Leaving Investors Heartbroken:  Nektar Therapeutics (NKTR), Baxalta Inc (BXLT), CTI BioPharma Corp (CTIC)

 

Nektar Therapeutics (NASDAQ:NKTR) declined 1.12% to end last trading session at $16.83. The company on Dec. 21, 2015 announced initial results from a Phase 3 clinical trial of ADYNOVATE [Antihemophilic Factor (Recombinant), PEGylated], an extended circulating half-life recombinant Factor VIII (rFVIII) treatment for hemophilia A based on ADVATE [Antihemophilic Factor (Recombinant)]. ADYNOVATE was approved by the U.S. Food and Drug Administration (FDA) in November 2015 for use in adolescent and adult hemophilia patients (12 years and older) for on-demand treatment and control of bleeding, and prophylaxis to reduce the frequency of bleeding episodes.

The prospective, uncontrolled, open-label, multi-center Phase 3 study was designed to assess the safety and immunogenicity of ADYNOVATE. The study enrolled 73 previously-treated patients (PTPs) with severe hemophilia A younger than 12 years of age and assessed the treatment’s hemostatic efficacy in prophylaxis and treatment of bleeding episodes. All participants received prophylactic ADYNOVATE treatment (median 1.9 infusions per week) and were followed for six months.

Baxalta Inc (NYSE:BXLT) plunged 1.13% to finish last trading session at $39.32. The company on Dec. 21, 2015 announced initial results from a Phase 3 clinical trial of ADYNOVATE [Antihemophilic Factor (Recombinant), PEGylated], an extended circulating half-life recombinant Factor VIII (rFVIII) treatment for hemophilia A based on ADVATE [Antihemophilic Factor (Recombinant)]. ADYNOVATE was approved by the U.S. Food and Drug Administration (FDA) in November 2015 for use in adolescent and adult hemophilia patients (12 years and older) for on-demand treatment and control of bleeding, and prophylaxis to reduce the frequency of bleeding episodes.

The prospective, uncontrolled, open-label, multi-center Phase 3 study was designed to assess the safety and immunogenicity of ADYNOVATE. The study enrolled 73 previously-treated patients (PTPs) with severe hemophilia A younger than 12 years of age and assessed the treatment’s hemostatic efficacy in prophylaxis and treatment of bleeding episodes. All participants received prophylactic ADYNOVATE treatment (median 1.9 infusions per week) and were followed for six months.

CTI BioPharma Corp (NASDAQ:CTIC) decreased 1.59% to complete last trading session at $1.24. The company on Dec. 14, 2015 announced that it has received a $10 million milestone payment from Teva Pharmaceutical Industries Ltd. (Teva) related to the achievement of sales milestones for TRISENOX® (arsenic trioxide). TRISENOX was acquired from CTI BioPharma by Cephalon, Inc. (Cephalon). Cephalon was subsequently acquired by Teva. The milestone was paid pursuant to an acquisition agreement for TRISENOX entered into with Cephalon under which CTI BioPharma is eligible to receive up to an additional $70 million in payments upon achievement by Teva of specified sales and development milestones related to TRISENOX.