Pfizer (NYSE:PFE) said Friday it will submit a new drug application for its experimental breast cancer drug, palbociclib.
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The decision, which it made after holding discussions with the U.S. Food and Drug Administration, followed the receipt of interim results of a mid-stage study.
In that study, the drug was paired with existing breast cancer drug letrozole. The two were then compared against letrozole alone.
The largest U.S. drugmaker expects to submit a new drug application for palbociclib early in the third quarter of this year. This comes about a year after the drug giant received breakthrough therapy designation for palbociclib from the FDA in April 2013.
The drug, an oral targeted agent, is being investigated as a treatment of locally advanced or metastatic breast cancer in post-menopausal women.
Shares of the Dow component edged up 1.2% to $29.41 in choppy trade.