NeoRx collapses as FDA suspends STR studies

NeoRx Corp has seen its share price collapse 46% following news thatit has suspended accrual and treatment in its Phase III clinical trial of Skeletal Targeted Radiotherapy in patients with multiple melanoma, as well as other STR studies. The shares closed at $9.38 on November 8. The firm says that four patients involved in a Phase I/II study developed delayed thrombotic thrombocytopenic purpura/hemolytic uremic syndrome. Although an independent Data Safety Monitoring Board has recommended that the pivotal trial should proceed, the US Food and Drug Administration has suspended the STR trials until it can evaluate the data.