Shares of TESARO Inc (NASDAQ:TSRO) are super hot today today on Ovarian Cancer results and the rally could continue to be hot until phase 3 results in the fall. The stock is up at the time of this written by over $40, 110%, destroying the shorts (at least for today). The sell side are panicing to play catch up with price targets here is what they are saying.
This morning TESARO Inc (NASDAQ:TSRO reported long-waited Ph3 NOVA data, showing s.s. PFS benefits in both cohorts; plans to file for U.S. & EU approval in 4Q16. Contrary to our cautious stance on non-gBRCAm/HRD+ arm following experts’ discussions, this arm also showed s.s clinically meaningful PFS benefits of ~9mo. AE profile was consistent with Ph1 data (most common Gr3/4 AEs thrombocytopenia, anemia & neutropenia). Full data to be presented at ESMO on 10/7-10/11.
Below is our 13F roundup for some high profile hedge funds for the three months to the end of March 2021 (Q1). Q1 2021 hedge fund letters, conferences and more The statements only include equity positions as 13Fs do not include cash and debt holdings. They also only include US equity holdings. Funds may hold Read More
NOVA Results Bode Well Other Studies: The outstanding NOVA results, in our view, bode well for other ongoing and planned studies involving niraparib. We note that other clinical programs involving niraparib continue to progress well: (i) QUADRA, 4th line ovarian; (ii) PRIMA, 1st line ovarian; (iii) BRAVO, BRCA+ breast cancer; and (iv) combination trials involving: (a) niraparib plus KEYTRUDA, triple negative breast cancer and ovarian indications; and AVANOVA – niraparib plus bevacizumab, ovarian cancer.
We expect broad use across ovarian cancer maintenance and niraparib looks clinically meaningful across BRCA and non-germline BRCA groups: Our peak ovarian cancer niraparib sales are $1.2B across 2nd line maintenance. Total ovarian sales across all lines of therapy on an adjusted basis are $1.8B (unadjusted $2.4B). In the BRCA cohort, the difference vs placebo was 15.5 mos. In the HRD/non-germline cohort, the difference vs placebo was 9 mos and the non-germline group difference was 5.4 months. Adverse events looked consistent with prior niraparib data. Rates of MDS/AML were consistent at 1.3% in niraparib and 1.2% in placebo. Discontinuation rates difference vs. placebo was 12%. This is roughly in-line with other ovarian trials that like OCEAN, CALYPSO, and ICON4 from speaking to mgmt.