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Biotech / Medical : Abgenix, Inc. (ABGX)

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From: bob zagorin	3/18/2005 3:18:25 PM
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Abgenix Completes Study Enrollment Friday March 18, 2:34 pm ET Abgenix, Amgen Complete Enrollment of 460-Patient Panitumumab Colorectal Cancer Study FREMONT, Calif. (AP) -- Biopharmaceutical company Abgenix Inc. said Friday that biotech company Amgen Inc. completed enrollment of a clinical trial designed to test their colorectal cancer treatment panitumumab as a stand-alone therapy. ADVERTISEMENT The trial enrolled 460 patients in Europe, Australia and Canada to evaluate the effectiveness of supportive care plus panitumumab as a stand-alone therapy administered every other week in patients with spreading colorectal cancer who have failed standard chemotherapy. Panitumumab is in a new class of treatments called epidermal growth factor receptor inhibitors, which suppress the growth of new cells. Abgenix and Amgen codeveloped the treatment. The company said it hopes to file a biologics license application with the Food and Drug Administration later this year pending data from the trial. Abgenix shares rose 10 cents to $7.86 and shares of Amgen fell 32 cents to $58.63 in afternoon trading on the Nasdaq.

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