Seattle Genetics Halts Lymphoma Drug Study

BOTHELL, Wash. (AP) — Development-stage biotechnology company Seattle Genetics Inc. said Monday it is ending a mid-stage chemotherapy trial because results were unlikely to meet expectations when compared to a placebo.

The company said drug dacetuzumab, used to treat cancer, will no longer be provided to lymphoma patients enrolled in the trial.Subjects who participated in the mid-stage clinical trial received dacetuzumab or a placebo with Rituxan, ifosfamide, carboplatin and etoposide chemotherapy.

Seattle Genetics is developing dacetuzumab with Genentech, which is a unit of Roche Group.

On Dec. 7, the company will present information on an early phase clinical trial evaluating dacetuzumab with Rituxan and Gemzar.

Rituxan, or rituximab, is used to treat cancers such as non-Hodgkin lymphoma and rheumatoid arthritis.

Shares of the company declined $2.46, or 19 percent, to $10.70 in premarket trading.