ArQule, Daiichi Sankyo discontinue lung cancer drug trial
(Reuters) - Biotechnology company ArQule Inc and Japan's Daiichi Sankyo Co Ltd said they will discontinue a late-stage trial of their experimental lung cancer drug after an interim analysis showed it would not meet the main goal of improving overall survival. "This is their single-most important asset. The drug may be dead, which may leave the company trading down to cash," said Chad Messer, an analyst with Needham & Company. ArQule's shares were down 61 percent at $1.94 before the bell on Tuesday. They closed at $4.99 on Monday on the Nasdaq. ...
Source: news.yahoo.com
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