AstraZeneca Prostate Cancer Drug Fails

Zibotentan was seen as a potential competitor to Dendreon's Provenge.
Author:
Publish date:

LONDON (

TheStreet

) --

AstraZeneca

(AZN) - Get Report

said Monday that its experimental prostate cancer drug zibotentan failed to prolong survival in a pivotal, phase III study, eliminating a competing threat to

Dendreon's

(DNDN)

prostate cancer therapy Provenge.

As a result of the failed study, AstraZeneca said it will not seek regulatory approval for zibotentan at this time. Two other phase III studies of the drug in prostate cancer are underway.

Dendreon is an immediate beneficiary of AstraZeneca's setback because the zibotentan study was enrolling the same type of advanced, hormone-refractory prostate cancer patients who are, right now, eligible for treatment with

Provenge, making the drugs direct competitors were zibotentan to be approved

.

Moreover, zibotentan is a pill taken once a day, making it more convenient and likely less expensive than Provenge -- a personalized vaccine requiring special manufacturing and three infusions over the course of one month.

Details of the failed zibotentan study were being withheld for presentation at a future medical meeting, AstraZeneca said.

Enthusiasm for zibotentan was dampened earlier this month after the survival benefit reported earlier in a phase II prostate cancer study of zibotentan narrowed and fell out of statistical significance, according to a final analysis of the study published in a medical journal.

AstraZeneca shares were down slightly at the start of trading in Europe. Dendreon shares closed Friday at $42.58.

--Written by Adam Feuerstein in Boston.

>To contact the writer of this article, click here:

Adam Feuerstein

.

>To follow the writer on Twitter, go to

http://twitter.com/adamfeuerstein

.

>To submit a news tip, send an email to:

tips@thestreet.com

.

Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback;

click here

to send him an email.