>>HAYWARD, Calif., Dec. 8 /PRNewswire-FirstCall/ -- Kosan Biosciences Incorporated (Nasdaq: KOSN - News) announced today the initiation of a Phase I clinical trial evaluating KOS-1584 (9,10-didehydroepothilone D), a second-generation epothilone. KOS-1584 will be initially tested in patients with advanced malignancies. The first trial is a Phase I dose-escalating study designed to establish the maximum tolerated dose, pharmacokinetics, pharmacodynamics, safety, and potential clinical benefit of the drug when administered as an intravenous infusion every three weeks. The first site has been initiated under the direction of Principal Investigator Dr. Miguel Villalona, of the Ohio State University Arthur James Cancer Center.
"KOS-1584 expands the Kosan and Roche collaboration by providing a complementary drug candidate to our first generation epothilone, KOS-862 which continues in a Phase II monotherapy trial in breast cancer and multiple Phase Ib studies," said Daniel V. Santi, M.D., Ph.D., Chairman and Chief Executive Officer at Kosan Biosciences.
KOS-1584 is a polyketide that inhibits cancer cell growth in vitro by a mechanism similar to paclitaxel. Preclinical models have demonstrated antitumor efficacy against paclitaxel-resistant tumors. Under a global development and commercialization agreement between Kosan and Roche, Roche has the worldwide exclusive right to market and sell KOS-862 and epothilone analogs owned by or licensed to Kosan for the treatment of cancer; Kosan will co-develop and has the right to co-promote Kosan/Roche epothilone products in the U.S. for the treatment of cancer.<<
I wonder if any of the preclinical data is floating around. I would assume improved PK/PD, specificity, safety/efficacy, or something like that. Might have to listen to next week's presentation, perhaps they'll give a timeline on this trial. I'd guess sometime in the last quarter, but perhaps they can start the dose in a narrow range, given what they know about the 1st generation compound, speeding things up a bit.
Also, Kosan was upgraded today, which helped it move against the somewhat receding tide of the market.
>>NEW YORK (AP) -- Shares of Kosan Biosciences Inc. jumped more than 6 percent in heavy trading Wednesday after investment bank Credit Suisse First Boston initiated coverage of the biotechnology company with an "Outperform" rating.
Credit Suisse set its target price for the stock at $10, saying Kosan shows significant potential with its two first-in-class cancer treatments in early trials and a partnership with Roche Group for developing its lead cancer drug candidate. The Hayward, Calif., company develops compounds known as polyketides as treatments for cancer, infectious disease and gastrointestinal disorders.
Recently, Kosan stock was up 42 cents, or 6.3 percent, at $7.13 on the Nasdaq. Shares were trading at about twice their average daily volume.
Credit Suisse predicted that Kosan's lead product, KOS-862, could deliver $1 billion in sales as a breast cancer treatment alone and forecast that the company will be profitable by 2011. Kosan currently has a market capitalization of $192.4 million.
Kosan shares hit a 52-week low of $5.40 in early December and are still well below their high of $14.92 reached in April.<<
Cheers, Tuck |
