SuperGen shares slide on late-stage Dacogen failure

Shares of SuperGen took a dive this morning after the company revealed that Dacogen failed a late-stage trial for the bone marrow disease MDS. Researchers say the drug failed to improve the median survival rate of patients when compared to a group receiving best standard of care. A total of 233 patients volunteered for the trial.

Dacogen is partnered with MGI Pharma, which is now owned by Japan's Eisai. Analysts say Dacogen's failure is a plus for Celgene's Vidaza, which is being relaunched this fall. Dacogen was approved in 2006.

- check out SuperGen's release
- read the AP report