Company: Cyclacel Pharmaceuticals ( CYCC) Drug/indication: Seliciclib for non-small cell lung cancer Expected timing: Before year's end Recent stock performance: At around $1.50, the stock has been cut in half from the $3 level reached in January. Last January, investors bid up shares of Cyclacel on the publication of research demonstrating that seliciclib was effective against certain lung cancer cells -- in a petri dish. Some of that investor excitement for the stock has ebbed in the subsequent seven months, but could be rekindled if Cyclacel posts positive results from this phase II study in non-small cell lung cancer patients. The phase II study is somewhat unique because it uses a follows a "randomized discontinuation" design that was most famously used to test the initial efficacy of Onyx Pharmaceutical's cancer drug Nexavar. In this case, all lung cancer patients are first treated with seliciclib for six weeks. Patients whose tumors remain stable at a minimum after this run-in treatment phase are then randomized to continue treatment with seliciclib or receive best supportive care. The study's primary endpoint is progression-free survival measured in the randomized portion of the study.