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Article: Coley Stock Plunges As Pfizer Abandons NSCLC Program.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Managing Editor
Shares of Coley Pharmaceutical Group Inc. sank nearly 60 percent Wednesday on news that partner Pfizer Inc. has walked away from the investigation lung cancer drug PF-3512676, shelving two Phase III and two Phase II trials.
A scheduled interim analysis of the Phase III trials by an independent data safety monitoring committee showed there was no evidence that PF-3512676 produced additional clinical efficacy over that achieved with the standard cytotoxic chemotherapy regimen alone. The committee concluded that the risk-benefit profile did not justify continuation of the trials, the company said.
"We're dumbfounded," commented ...