SGX shares slide on report of early-stage toxicity

Shares of SGX Pharmaceuticals were sliding this morning on the news that its lead cancer therapy produced unexpected dose-limiting levels of toxicity in early-stage trials. The company said that it was surprised by the toxicity in SGX523 after a careful evaluation of animal data revealed no such tendency. And company officials carefully noted that they're examining other dosing regimens while pursuing the development of additional cancer therapies in its pipeline.

Patients in a low-dose trial of SGX523 involving solid tumors continue to be treated while no further dosing is being provided in an interrupted dosing trial--a repeating 21 day cycle of 14 days on therapy followed by 7 days off. 

"From the initial clinical data, the profile of SGX523 appears to be different than the preclinical data would suggest," said Mike Grey, president and chief executive officer of SGX Pharmaceuticals. "We may explore whether alternative doses and schedules are safe and efficacious. We continue the preclinical development of the BCR-ABL inhibitor SGX393 and the second MET inhibitor SGX126. In addition, we are targeting the identification of two development candidates this year from our drug discovery programs to further enhance our pipeline."

- check out the press release

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