Myriad to End Development of Flurizan

Myriad Genetics (MYGN Quote) said Monday that it will stop development of its experimental Alzheimer's disease drug Flurizan due to the failure of a pivotal phase III study.

The Flurizan study, which enrolled patients with mild to moderate Alzheimer's, did not achieve statistical significance on either of its two primary endpoints -- cognition or activities of daily living, the company said.

While disappointing, the negative outcome from the Flurizan study was not unexpected, given the relatively poor results coming out of the drug's phase II study. In fact, many investors are likely to welcome Flurizan's demise because shelving the drug will reduce Myriad's expenses and boost profits from the company's genetics testing business. ...