Cell Genesys (CEGE Quote) is done. In the ashes of the biotech firm's blowup, however, there are important investing lessons to learn.
The end for Cell Genesys came Thursday after an independent futility analysis found the company's GVAX prostate cancer vaccine had little chance of success. Cell Genesys was forced to halt the GVAX prostate phase III study, the second such late-stage GVAX prostate cancer study shuttered in recent months.
Cell Genesys has stopped all clinical development of its GVAX cancer vaccine program and is laying off a majority of its employees. With little else on its plate, the company's future is bleak. The stock is now valued at pennies per share and shareholders have lost everything. Dendreon (DNDN Quote) is now the last company standing with a prostate cancer vaccine in clinical trials. ...
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