Aveo CEO says new data eases concerns about troubled kidney cancer drug

Cambridge drugmaker Aveo Oncology is trying again with its kidney cancer drug tivozanib, disclosing new late-stage data Tuesday that sent its stock price shooting up more than 40 percent and adding $60 million to the troubled company ’s market cap.  Tivozanib was developed to treat advanced renal cell carcinoma, the most common form of kidney cancer. But Aveo has been keeping tivozanib on life support since the FDA rejected it back in 2013 due to a higher risk of death or toxicity than the industry’s…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news