OXiGENE Inc. (NASDAQ: OXGN) recently reported incredibly positive data form its Phase 2 study of a potential treatment for recurrent ovarian cancer in women. The development brought OXGN closer to commercialization of the compound called GOG-0186I.
Although success in mid-stage trial doesn’t guarantee success in future trials, the market is betting that the overwhelming positive study data from the Phase 2 study of GOG-0186I highlight the drug candidate’s high chances of success.
GOG-0186I met the primary endpoint in the Phase 2 study. According to OXiGENE Inc. (NASDAQ: OXGN), GOG-0186I produced statistically significant improvement in the survival of patients who took its combination compared with the control arm of the experiment.
Hope for women with recurrent ovarian cancer
OXiGENE Inc (NASDAQ:OXGN)’s CEO, William D. Schwieterman, commented that the results of the study are a major step in developing a treatment solution for women afflicted by ovarian cancer. The company will continue to analyze the outcome of the study for more hints about the potential of the combination therapy.
Drug companies usually try to find out if their compound can be effective for a secondary indication. That is likely what OXiGENE Inc (NASDAQ: OXGN) scientists will be doing as they closely analyze the Phase 2 findings of GOG-0186I. Identifying potential of a candidate for additional indication means that the treatment has greater revenue potentially than originally anticipated.
Unlocking massive revenue
There is still a long run way for OXiGENE Inc. (NASDAQ: OXGN) to cover in bringing its ovarian cancer candidate to market. However, the favorable Phase 2 data charged the market as investors trained their eyes on the outcome of the compound. If OXGN attains success with the candidate and gets it approved for commercialization, it could unlock massive revenue stream for the company.
The management did not estimate the potential revenue opportunity, but ovarian cancer afflicts many women around the globe.
Stock volatility for OXiGENE Inc. (NASDAQ: OXGN)
Although positive, OXiGENE Inc. (NASDAQ: OXGN) shares are likely to remain volatile for some time as investors digest the Phase 2 study results of GOG-0186I. However,