A Two-Pronged Attack on a Killer
June 23rd, 2008
Thus, as Nexavar’s promise in treating kidney cancer became apparent in 2004, the stock, as noted, hit 60. But by late 2006 after Nexavar flopped in a Phase III trial for advanced skin cancer, shares could be had for $10 and change. Eleven months later, success in liver cancer made headlines and the stock shot up to over $60. But early this year, Nexavar failed a Phase III trial for lung cancer, sending shares plunging below $25. They now sell around $33, roughly half the recent high.