Seattle Genetics Halts Lymphoma Drug Study: BioBuzz

SEATTLE, Wash. (TheStreet) -- Seattle Genetics(SGEN Quote) discontinued a phase II study of its experimental lymphoma drug dacetuzumab, of SGN-40 after independent trial monitors determined that patients were not benefiting from the drug, the company said Monday.

Seattle Genetics and the Genentech unit of Roche are co-developing dacetuzumab. Four other phase I trials involving the drug in patients with non-Hodgkin's lymphoma and multiple myeloma are ongoing.

The phase II study halted Monday enrolled patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL). Patients were treated with dacetuzumab or a placebo in combination with a background regimen of Roche's Rituxan plus chemotherapy.

Seattle Genetics' lead drug is brentuximab, or SGN-35, which is enrolling patients in a pivotal phase III study of Hodgkin's lymphoma.

Seattle Genetics' shares closed Friday at $13.16.

Monday' Analyst Action

Sanford Bernstein is positive on Human Genome Sciences(HGSI Quote), saying that fears about the outcome of the upcoming BLISS-72 phase III study of Benlysta in lupus are overblown.

JP Morgan says risk-reward for Acorda Therapeutics(ACOR Quote) is favorable ahead of next week's FDA advisory panel meeting of fampridine for multiple sclerosis.

Jefferies downgrades AMAG Pharmaceuticals(AMAG Quote) to hold and lowers earnings estimates due to slow uptake of Feraheme in the dialysis market. Feraheme's potential in the non-dialysis setting remains promising, Jefferies says.

Amicus Therapeutics(FOLD Quote) downgraded to neural by JP Morgan and while Morgan Stanley advises clients to remain on sidelines following the failure Friday of a phase II study of the company's drug Plicera in Gaucher disease.