AstraZeneca drops cancer program after Phase II failure

AstraZeneca says it won't take the advanced melanoma drug AZD6244--licensed from Array BioPharma--into late stage trials after seeing the program flunk Phase II.  Researchers said they could see no difference between AZD6244 and Temodar (temozolomide), which is in use to treat brain tumors. That wasn't what investors in Array wanted to hear. They shaved 18 percent off the value of its stock, which had already gradually slid 16 percent this year. AstraZeneca licensed the program four years ago.

- see this release
- read the AP report for more on the results

ALSO: Take a look at AstraZeneca's pipeline. Report

Suggested Articles

Genor Biopharma banked $160 million from the likes of Hillhouse and Temasek Holdings to advance its clinical-stage autoimmune and cancer programs.

Going from being the CSO of Bristol Myers Squibb to running one of the biggest cancer research organizations in the world is a major career shift.

Hahn made the commitment in a speech that called on the FDA to learn from the crisis to enact lasting policies that accelerate drug development.