>SF Presenter Very Positive on Abraxis
June 17, 2010
>A San Francisco presenter is encouraged by the recent data released by Abraxis Bioscience (NASDAQ: ABII, $51.17). The company’s chemo treatment Abraxane demonstrated a 31% improvement in the response rate over Taxol in a Phase 3 trial for first line non-small cell lung cancer. ABII’s chemo platform is also in a late stage trial for advanced melanoma. The presenter notes that Abraxane revenues can potentially increase 10-fold over the long term from $400 million currently. The company has hired Lazard and Goldman, looking at a potential sale, which in the presenter’s estimation can happen at $75-$85/share.
The Collaborator 