Satraplatin fails to reach efficacy endpoint in Ph III trial

German biopharmaceutical firm GPC Biotech AG has announced that its anticancer agent satraplatin has fallen short of its primary efficacy endpoint in the Phase III SPARC prostate cancer study. The company, which licensed satraplatin from USA-based Pharmion, said that the drug, in combination with prednisone, had failed to improve overall survival in comparison with prednisone alone (61.3 weeks versus 61.4 weeks). The news caused GPC's share price to plunge 60% to close at 3.22 euros, in trading on the Hamburg Stock Exchange. Bernd Seizinger, the firm's chief executive, expressed disappointment at the findings, adding that talks with partners regarding the drug's future development were ongoing. The drug's failure to demonstrated efficacy casts further doubt on its US approval, a final decision on which was delayed earlier this year (Marketletter July 30).