Brian Klein, a Vice President with Stifel Nicolaus & Co., says biotechnology investors may want to take a closer look at Clovis Oncology Inc (CLVS),as the company is making some headway on development of a drug to treat lung cancer.
“This company is developing a cancer product for patients with specific a mutation in lung cancer called EGFR mutation, and that stands for epidermal growth factor receptor; it’s a type of receptor on the cancer cell that helps stimulate the growth of cells,” Klein says. “And in particular, patients within this EGFR mutated class have developed a resistance pattern to the current standard of care, and then they tend to deteriorate rather rapidly.”
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Klein says Clovis is developing a targeted therapy for a specific mutation, and the data is in the early stages. So, while there is a risk factor, Klein thinks the outlook is good for Clovis.
“From the data that we’ve seen the drug appears quite active, and we think that given the targeted nature of the product, the large unmet need in lung cancer and the data that they generated today, it’s possible that the FDA could be quite accommodative here and have this drug on the markets within a couple of years,” Klein says.
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