"Patrick has a very limited amount of disease and he appears to be responding well to treatment thus far," said Dr. George Fisher, Swayze's physician, in a statement.
"All of the reports stating the timeframe of his prognosis and his physical side effects are absolutely untrue. We are considerably more optimistic."
It was widely reported on the Internet Wednesday that Swayze couldn't eat solid food and only had a few weeks to live
The 55-year-old performer has been "continuing with his regular schedule, which includes upcoming projects", said Swayze's representative, Annett Wolf, in the statement, without detailing the nature of his work.
Swayze has been married to fellow dancer Lisa Niemi since 1975. They have no children.
Only 23 percent of patients diagnosed with pancreatic cancer live more than a year, according to The American Cancer Society. This particular type of cancer also killed 'Little House on the Prarie' star Michael Landon.
Both are scheduled for release this year.
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