Going back a little bit more than a year (until November 30, 2001 to be precise) this is what I posted on the Abgenix board after an Abgenix presentation at an investor's conference:
Following Abgenix's recent conference call Adams Harkness & Hill in a research note provided the following summary regarding the company's clinical development status.
- ABX-IL8: The Company plans to complete enrollment in a Phase IIb study in patients with moderate-to-severe psoriasis this year, with results expected to follow in Q2 of 2002. If the data are positive, a bridging study with an intramuscular and/or subcutaneous formulation would begin in H2 of 2002, followed by Phase III trials with the new formulation in H1 of 2003. In addition, a Phase IIa proof-of-concept trial with ABX-IL8 in rheumatoid arthritis is fully enrolled. Data are expected in Q1 of 2002 (likely January). Finally, enrollment in a Phase IIa study in patients with COPD is expected to be complete by Q3 of 2002, with data to follow in Q1 of 2003.
- ABX-EGF: Phase II trials with ABX-EGF continue in kidney cancer and NSCLC. A third Phase II trial will be initiated with collaborator Immunex by the end of this year (likely in colorectal or pancreatic cancer). Two additional Phase II studies are expected to begin in 2002 for other EGF-expressing cancers. Results from the Phase II trial in kidney cancer are expected by the middle of 2002.
- ABX-CBL: Enrollment in the Phase II/III graft-versus-host disease trial is expected to be complete by the end of 2002, with data available in Q1 of 2003.
- An IND for the fourth Abgenix product is to be filed by the end of this year.
- The Company expects to have 11 product candidates by the end of 2002, seven of which will be in Phase II or Phase III trials, and 18 product candidates by the end of 2003, 11 of which will be in Phase II or Phase III trials.
Things have evidently changed very much since then. Today, Abgenix doesn't want to discuss any numbers whatsoever with regard to the numbers of products candidates in the clinics. (They mentioned two third-party projects - one with Pfizer and one with Amgen). But for their own pipeline they were unable to say anything or give any numbers, citing the fact that they have not yet entered into the partnerships that are supposed to advance the projects.
I believe, that it has finally dawned on Abgenix that developing new drugs is not an easy task, even if you happen to have the best breed of mice around. And as their technology is able to generate mAbs targeting such a wide area of possibilities, the company is simply not able to maintain research and development capabilities to further such products. This is why they will need partnering arrangements for each or every product they intend to advance.
Alternatively, all the screening work done by Curagen and Lexicon on their behalf has not yet produced any viable targets.
Erik |
