Amgen's (AMGN, Financial) Blincyto (blinatumomab) has been granted accelerated approval by the U.S. Food and Drug Administration for treatment of B-cell precursor acute lymphoblastic leukemia among children and adults.
Remission following an initial treatment for the B-cell precursor, known as ALL, can show up among patients as minimal residual disease or MRD. In other words, the presence of cancer cells can still be detected with the microscope. Richard Pazdur, the director of the Oncology Center of the FDA, commented: “This is the first FDA-approved treatment for patients with MRD-positive ALL.” He added: “Because patients who have MRD are more likely to relapse, having a treatment option that eliminates even very low amounts of residual leukemia cells, may help keep the cancer in remission longer.”
Amgen's drug, Blincyto, is being assessed to determine how it influences the long-term survival of patients with a minimal residual of B-cell precursor.
B-cell precursor acute lymphoblastic leukaemia is a type of cancer that leads to rapid proliferation of B-cell lymphocytes. That is, the bone marrow produces too many of an immature type of white blood cells.
The National Cancer Institute estimates that approximately 5,960 people in the U.S. will be diagnosed with ALL this year and approximately 1,470 will die from the disease. By attacking certain proteins on the immune system and leukemia cells, Blincyto facilitates immune cells defeating sick cells.
Blincyto was at first approved by the FDA in December 2014.
Amgen is trading at $170.48 per share and has a market capitalization of $122.84 billion. For the 52-weeks through March 29 the stock has gained 3.7% underperforming the S&P 500 index by 7.8%. The current share price is off $30.75 of the 52-weeks high of $201.23. The 52-weeks low is $152.16 per share.
Source: Yahoo Finance
The price-book ratio is 4.88 versus an industry median of 4.51. The price-sales ratio is 5.48. The price-earnings ratio is 64.33 versus an industry median of 29.83.
Amgen has a forward dividend of $5.28 per share and a forward yield of 3.1%. The industry has a forward dividend yield of 1.09%.
(Disclosure: I have no positions in any stock mentioned in this article.)
