Novartis Halts Cancer Drug Trial
BASEL, Switzerland (
) --
Novartis
(NVS) - Get Report
said Thursday it was discontinuing clinical trials in investigational cancer drug ASA404 and would shift its focus to other compounds in its oncology pipeline.
Novartis said it would record a fourth-quarter charge of $120 million from shutting down the trial.
Novartis said interim results from a Phase III trial showed that ASA404 likely wouldn't meet the primary endpoint of significantly extending overall survival when used in combination with chemotherapy for the treatment of advanced non-small cell lung cancer.
The trial, Novartis said, was stopped early based on a recommendation from an independent data monitoring committee.
It's the second setback for the drug, which was licensed from the U.K.'s
Antisoma
in 2007.
-- Written by Joseph Woelfel
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