Financial Markets Research: Spectrum Pharmaceuticals' Oral Satraplatin

Summary

Introduction

There are no FDA-approved second-line chemotherapy options for hormone refractory prostate cancer, indicating a great unmet need, with a large potential market for an agent such as Spectrum's satraplatin, which could offer key advantages due to its oral administration profile.

Highlights

Given its novel oral administration profile and promising efficacy data from a small European trial, if approved, we believe Spectrum Pharmaceuticals' (SPPI) and GPC Biotech's (GPCB) satraplatin could become a widely popular treatment option for second-line hormone-refractory prostate cancer (HRPC) patients.Pending results from the recently enrolled Phase III SPARC trial, we anticipate that satraplatin, a third generation platinum agent, could be approved for HRPC as early as mid-2007 and forecast significant revenues for the companies.

Scope

• Analysis of the regulatory and commercial potential for SPPI's oral satraplatin, the first agent to demonstrate activity in second-line HRPC patients
• Interviews with 5 prostate cancer specialists regarding trends in the treatment of this disease and the potential role for a second-line HRPC option

Reasons to Purchase

• Predict the regulatory and commercial potential for SPPI's oral satraplatin through in-depth analysis based on interviews with leading experts
• Anticipate likely changes in the future market dynamics for hormone-refractory prostate cancer therapies upon possible launch of oral satraplatin

Contents

• Summary
• Sppi's Oral Satraplatin Aims To Take Share In Underserved Second-Line Hrpc Market
• Company Background
• Spectrum Pharmaceuticals
• Satraplatin
• Hormone Refractory Prostate Cancer
• Overview
• Taxotere: Standard of care for hormone refractory prostate cancer patients
• Satraplatin shows potential in HRPC
• Phase III trial designed to support eventual FDA approval
• Factors Affecting The Potential For Satraplatin
• Lack of approved second-line HRPC agents should help near-term potential
• Can activity in Phase II be replicated in Phase III trial?
• Oral formulation could actually hinder uptake in HRPC
• Satraplatin Forecast
• Given known activity and unmet need, approval seems likely
• First approved second-line HRPC agent could have great potential
• Future front-line and combination use could represent further upside
• Appendix
  • Supplementary data
  • Datamonitor Healthcare
  • Disclosure information
  • Ask the analyst
• List of Tables
  • Table 1: Forecast US Satraplatin revenues 2007-2011
  • Table 2: US Hormone Refractory Prostate Cancer Model