Arcus Biosciences and Gilead Sciences are discontinuing a Phase 3 trial of an experimental cancer treatment after an interim review showed the therapy was unlikely to help patients live longer.
Arcus said Friday that the treatment, STAR-221, failed to improve overall survival for patients with advanced gastric and esophageal cancers compared with currently available therapies.
An independent data-monitoring committee recommended that the companies stop the study due to futility.
Shares of Arcus fell 11% to $22.48 in premarket trading. Gilead's stock edged down 0.3% to $122.88.
The companies said the drug's safety profile was consistent with existing treatments and no new safety issues emerged.
Arcus and Gilead said they are working with trial investigators on next steps for patients and plan to conduct a fuller analysis of the data.
"We are disappointed with this outcome," said Arcus Chief Medical Officer Richard Markus, adding that the company remains focused on developing new treatments for cancer and immune-related diseases.
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