Agennix Plunges as Cancer Drug Fails in Trial: Frankfurt Mover
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Agennix AG shares declined as much as 79 percent in Frankfurt trading after an experimental treatment for lung cancer failed to meet targets in a late-stage trial, threatening the company’s survival.
Talactoferrin, a replica of the human protein lactoferrin, didn’t meet its primary endpoint of improving overall survival, Agennix said in a statement yesterday. The drug also didn’t meet a secondary goal of delaying or stopping the disease from progressing and the company is stopping another trial of the drug in the U.S. as a result, Rajesh Malik, chief medical officer, said during a conference call today.