Another biological oncology drug received approval from the FDA today. This time it was Genentech and Curis' drug vismodegib (marketed as Erivedge) for the treatment of basal cell carcinoma, a common skin cancer. They won the approval well ahead of the agency's decision deadline. And top regulators signaled that they would look kindly on other developers who take the same approach to targeted therapeutics.
The drug will be used to treat BCC patients who's cancers have spread after surgeries or other treatments. The median progression-free survival rate was 9.5 months. Erivedge is the first drug that targets the hedgehog signaling pathway that has been approved. More are on the way. See Xconomy.
This is Curis' first approved drug. The company is now due a $10 M milestonepayment from Genentech upon the approval. Curis also stands to earn royalties on sales. Curis investors spared no time in starting to cash in by selling their shares in brisk trading today.
Posted by Bruce Lehr Jan 30th 2012.
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