This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Genitope's MyVax Vaccine Falls Short

Genitope (GTOP) said Thursday that its non-Hodgkin's lymphoma vaccine MyVax failed to meet the primary endpoint in a pivotal phase III study.

The negative outome of the MyVax study is a significant setback for Genitope, which has hitched its entire future on developing MyVax as a new treatment for non-Hodgkin's lymphoma, a cancer that targets B cells, a part of the immune system.

Genitope issued a press release earlier Thursday annoucing its upcoming MyVax conference call, driving shares down nearly 40% to close at $2.59. Following the news, Genitope fell another 79 cents in recent after-hours trading to $1.75.

In the primary analysis of the study, there was no statistically significant difference in the progression-free survival (PFS) of patients receiving MyVax compared to patients receiving a control substance, Genitope said.

In a phone interview conducted earlier Thursday, Genitope CEO Dan Denny acknowledged that MyVax patients didn't even show a trend toward prolonged PFS compared to the control patients.

But Denny remains optimistic about MyVax's future because of a secondary analysis from the study showing a subgroup of MyVax patients who did get a significant clinical benefit from the vaccine.

Genitope plans to discuss these positive data with the Food and Drug Administration, said Denny, hinting that the company will more than likely file for approval based on the subgroup analysis.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
GTOP $0.00 20.00%
AAPL $128.95 0.00%
FB $78.99 0.00%
GOOG $537.90 0.00%
TSLA $226.03 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs