Amgen halts all its trials of rilotumumab in advanced gastric cancer

24 November 2014

USA-based Amgen (Nasdaq: AMGN), the world’s largest independent biotech firm, has terminated all company-sponsored clinical studies of rilotumumab in advanced gastric cancer, including the Phase III RILOMET-1 and RILOMET-2 studies.

Despite the disappointing news, Amgen’s shares still managed a 1.3% rise to $164.92 in mid-morning trading, perhaps a reflection of a small market potential. The monoclonal antibody market in gastric cancer has been forecast to grow from $256 million in 2012 to $501 million by 2019 at a compound annual growth rate (CAGR) of 10% (The Pharma Letter September 15).

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