Another stock that is doing well today is Avant Immunotherapeutics (AVAN, $18.75, up $4.74) which is up 33% after hitting a high of $19.79 earlier in the session. The company released data showing their cancer vaccine CDX-110 more than doubled the survival time in certain brain cancer patients.
The 23 patients the researchers tested with a type of brain tumor called glioblastoma multiforme lived an average 33 months longer. The Phase II data was also presented at the American Society of Clinical Oncology annual meeting. The doctor who presented the study said “that is almost unheard of” when talking about the survival rate.
This was certainly good news for Avant Immunotherapeutics but it’s also good news for Pfizer (PFE, $19.16, down $0.20) which will license the rights. Pfizer and Avant announced the deal last month as Pfizer will pay $40 million upfront plus a $10 equity investment in Avant.
Although Avant does not trade options and the stock’s big jump makes it even harder to justify getting in at current levels, Pfizer could be the better play if you are wanting a piece of the action. I mentioned Pfizer a month ago when the stock was at $19.91 and said back then how I though the stock was undervalued. Click here to read the entire review.
Not much has changed with Pfizer since except that the stock is lower and the dividend is up to 6.6%.