Amgen (AMGN - Free Report) announced new data from two combination arms of the phase Ib CodeBreaK 101 study. The CodeBreaK 101 study is evaluating Lumakras (sotorasib) in different combination regimens to treat KRAS G12C-mutated cancers.
One arm evaluated Lumakras in combination with afatinib in KRAS G12C-mutated non-small cell lung cancer (NSCLC) in two different cohorts — cohort 1 evaluating 20 mg afatinib/960 mg Lumakras and cohort 2 evaluating 30 mg afatinib/960 mg Lumakras. Data from the study showed that the combinations achieved an objective response rate (ORR) of 20% in cohort 1 and 35% in cohort 2. The study also achieved a disease control rate of 70% in cohort 1 and 74% in cohort 2.
The other arm evaluated Lumakras in combination with trametinib in patients with KRAS G12C-mutated NSCLC, colorectal cancer (CRC) and other solid tumors. The data showed that out of 18 patients with CRC, only two patients achieved partial response. The data also showed that in the treatment for NSCLC patients, patients who were previously treated with a KRASG12C inhibitor achieved a 67% disease control rate compared to KRASG12C inhibitor naïve patients who achieved a partial response rate of 20% and 87% disease control rate.
Amgen’s stock has declined 9.1% so far this year in comparison with the industry’s 10.8% decline.
We remind investors that Lumakras became the first KRAS inhibitor to be approved in the United States for treating KRAS G12C-mutated locally advanced or metastatic NSCLC since May 2021. The drug is also being evaluated in a phase II monotherapy study in advanced CRC patients. A potential approval in any of the above indications will give an impetus to the company’s stock and revenue prospects.
In a separate press release, Amgen announced that it has entered into a strategic collaboration with Neumora Therapeutics to advance neuroscience discovery, development and commercialization. As part of the collaboration deal, Amgen has invested $100 million as an equity investment in Neumora.
Per the collaboration terms, both companies will develop therapies for brain diseases by applying Neumora’s proprietary platform to the insights generated by deCODE Genetics - a wholly-owned subsidiary of Amgen. Neumora has also been granted exclusive global rights to develop and commercialize Amgen’s investigational therapies targeting casein kinase 1 delta and glucocerebrosidase for neurodegenerative indications.
Zacks Rank & Stocks to Consider
Amgen currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector include Horizon Therapeutics , Regeneron Pharmaceuticals (REGN - Free Report) and Vertex Pharmaceuticals (VRTX - Free Report) . While both Horizon and Vertex sport a Zacks Rank #1 (Strong Buy), Regeneron holds a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Horizon’s earnings per share estimates for 2021 have increased from $4.46 to $4.62 in the past 60 days. The same for 2022 has risen from $5.84 to $6.12 over the same period. The stock has rallied 55.4% in the year so far.
Regeneron’s earnings per share estimates for 2021 have increased from $52.83 to $61.41 in the past 60 days. The same for 2022 has risen from $44.12 to $46.73 over the same period. The stock has rallied 14.3% in the year so far.
Vertex’s earnings per share estimates for 2021 have increased from $12.28 to $12.37 in the past 60 days. The same for 2022 has risen from $13.02 to $13.13 over the same period.
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Amgen (AMGN - Free Report) announced new data from two combination arms of the phase Ib CodeBreaK 101 study. The CodeBreaK 101 study is evaluating Lumakras (sotorasib) in different combination regimens to treat KRAS G12C-mutated cancers.
One arm evaluated Lumakras in combination with afatinib in KRAS G12C-mutated non-small cell lung cancer (NSCLC) in two different cohorts — cohort 1 evaluating 20 mg afatinib/960 mg Lumakras and cohort 2 evaluating 30 mg afatinib/960 mg Lumakras. Data from the study showed that the combinations achieved an objective response rate (ORR) of 20% in cohort 1 and 35% in cohort 2. The study also achieved a disease control rate of 70% in cohort 1 and 74% in cohort 2.
The other arm evaluated Lumakras in combination with trametinib in patients with KRAS G12C-mutated NSCLC, colorectal cancer (CRC) and other solid tumors. The data showed that out of 18 patients with CRC, only two patients achieved partial response. The data also showed that in the treatment for NSCLC patients, patients who were previously treated with a KRASG12C inhibitor achieved a 67% disease control rate compared to KRASG12C inhibitor naïve patients who achieved a partial response rate of 20% and 87% disease control rate.
Amgen’s stock has declined 9.1% so far this year in comparison with the industry’s 10.8% decline.
We remind investors that Lumakras became the first KRAS inhibitor to be approved in the United States for treating KRAS G12C-mutated locally advanced or metastatic NSCLC since May 2021. The drug is also being evaluated in a phase II monotherapy study in advanced CRC patients. A potential approval in any of the above indications will give an impetus to the company’s stock and revenue prospects.
In a separate press release, Amgen announced that it has entered into a strategic collaboration with Neumora Therapeutics to advance neuroscience discovery, development and commercialization. As part of the collaboration deal, Amgen has invested $100 million as an equity investment in Neumora.
Per the collaboration terms, both companies will develop therapies for brain diseases by applying Neumora’s proprietary platform to the insights generated by deCODE Genetics - a wholly-owned subsidiary of Amgen. Neumora has also been granted exclusive global rights to develop and commercialize Amgen’s investigational therapies targeting casein kinase 1 delta and glucocerebrosidase for neurodegenerative indications.
Zacks Rank & Stocks to Consider
Amgen currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same sector include Horizon Therapeutics , Regeneron Pharmaceuticals (REGN - Free Report) and Vertex Pharmaceuticals (VRTX - Free Report) . While both Horizon and Vertex sport a Zacks Rank #1 (Strong Buy), Regeneron holds a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Horizon’s earnings per share estimates for 2021 have increased from $4.46 to $4.62 in the past 60 days. The same for 2022 has risen from $5.84 to $6.12 over the same period. The stock has rallied 55.4% in the year so far.
Regeneron’s earnings per share estimates for 2021 have increased from $52.83 to $61.41 in the past 60 days. The same for 2022 has risen from $44.12 to $46.73 over the same period. The stock has rallied 14.3% in the year so far.
Vertex’s earnings per share estimates for 2021 have increased from $12.28 to $12.37 in the past 60 days. The same for 2022 has risen from $13.02 to $13.13 over the same period.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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