AZD6244 falls short in Ph II skin cancer study
US firm Array BioPharma says that its candidate anticancer agent AZD6244 failed to show superiority to Schering-Plough's Temodar (temozolomide) in the treatment of advanced melanoma. Array added that, as a result of the findings, its development partner AstraZeneca, which licensed the compound in 2003 (Marketletters passim), has shelved plans for Phase III trials of the drug in this indication, but is continuing to explore other options for further development. The news caused Boulder, Colorado-headquartered Array's share price to fall some 17.9% to $9.05 when it was announced on December 19. As at January 2, Array's shares were $8.57.
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