Is Tivozanib a victim of its own success?
Aveo Pharmaceuticals, which manufactures the kidney cancer drug Tivozanib, was probably surprised to see its share price drop by 20 percent after it issued its report from its Phase III trial, according to Bloomberg News. A market analyst notes that the drop was likely due to an unreasonable expectation for the trial results, due in part to excitement over the drugs performance to date. The drug has prevented progression of disease for nearly a year, with tolerable side effects. Investors were expecting closer to 13 months of progression free survival, notes the analyst. Aveo intends to move forward to prepare for the launch of the drug, according to the company’s CEO.