Enobosarm fails endpoints in Ph III study
US biotech firm GTx (Nasdaq: GTXI) revealed disappointing results for its two Phase III enobosarm clinical studies, the POWER trials, in patients with non-small cell lung cancer (NSCLC) receiving chemotherapy.
The news caused GTx shares to plunge 64% to $1.48 in morning trading on Monday, which, according to a Bloomberg report, was its biggest intra-day decline since the company’s initial public offering in 2004. Last year, the stock plummeted 30% after the US Food and Drug Administration put a clinical hold the company’s clinical trials evaluating Capesaris (GTx-758) for primary (first line) androgen deprivation therapy for advanced prostate cancer and secondary (second line) hormonal treatment (The Pharma Letter February 24, 2012).
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