Partner puts in a good word for Belinostat

Topotarget (CPH: Topo) continued its recent strong run after its partner Spectrum Pharmaceuticals (NASDAQ: SPPI) highlighted Belinostat data presented at the 2012 ASCO annual meeting in Chicago. Clinical results from Phase II Study in Relapsed and Refractory Aggressive B-Cell Lymphomas also referred to in here prior to the conference were commented in a positive light. Spectrum also touted Belinostat’s potential at the Jefferies 2012 Global Healthcare Conference last weekend. The presentation is available from their website.

While presenting its quarterly report numbers last week, Topotarget was asked if there were any changes in its relationship with the partner, and the response was that everything is business as usual. The company continues to patiently await results from its two main trials and has managed to cut costs considerably. If everything goes according to plan, the cash resources should suffice until the next milestones. There may also be an additional milestone related to the Totect divestiture coming to help out prior to any expected Belinostat milestones.

ASCO conference is a major trading event for biotech investors and often that year’s hot stocks tend to trade up going into the event and sell on the news on larger exchanges. Whether this debatable phenomenon extends into Nordic exchanges is less clear. For Topotarget investors need to be aware of the upcoming CUP-catalyst, where market expectations appear rather high.