Poniard Pharmaceuticals, Inc. (NASDAQ: PARD) announced today that its shareholders have approved proposals to complete the previously announced merger with ALLOZYNE, Inc. As a result a 1-for-40 reverse stock split of Poniard common stock will be effective at 5:00 PM, Pacific Time, on November 22, 2011, and Poniard common stock is expected to begin to trade on The NASDAQ Capital Market on a split-adjusted basis at the opening of trading on November 23, 2011.
Spectrum Pharmaceuticals (NasdaqGS: SPPI) received approval from the FDA to remove the pre-treatment biodistribution evaluation requirement using Indium-111 ZEVALIN imaging dose followed by a gamma scan before administering the ZEVALIN therapeutic dose, thus simplifying the process. This pre-treatment biodistribution evaluation requirement is more commonly referred to as the bioscan and is used to treat Non-Hodgkin Lymphoma.
Exelixis, Inc. (NASDAQ:EXEL) today announced the initiation of an investigator-sponsored Phase 2 trial (IST) of cabozantinib in women with hormone receptor-positive breast cancer with bone metastases. The open label, single arm trial is expected to enroll 50 women. The primary endpoint of the trial is bone scan response rate determined by local institutions and by an independent radiology facility.