OncoGenex Pharmaceuticals Inc has announced that it has reached an agreement with regulators in the US to amend its late-stage prostate cancer trial. The agreement to amend the trial was reached through the special protocol assessment (SPA) process.
The U.S. Food and Drug Administration said that it agreed to modify the study population in the trial. Initially the trial was monitoring the success of second-line of chemotherapy drugs, but the focus will now be on the first line of drugs.
Last August, OncoGenex merged with Sonus Pharmaceuticals Inc and went public. Versant Partners analyst Douglas Loe said the recommendation was to buy OncoGenex shares as FDA participation bodes well for the company. "I would be comfortable saying that partnership interest would intensify materially on recent regulatory development," he added.
OncoGenex shares were trading up by 17 percent at $22.80 on Nasdaq.