Glaxo MAGE-A3 Cancer Drug Fails to Help Patients in Trial
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Agenus Inc., a developer of treatments for cancer and infectious diseases, plummeted the most in four years after partner GlaxoSmithKline Plc’s MAGE-A3 vaccine failed to help skin-tumor patients in a trial.
Agenus, which developed the stimulating component of the experimental treatment, fell 23 percent to $2.84 at the close in New York, its biggest drop since October 2009. The shares of the Lexington, Massachusetts-based biotechnology company have declined 31 percent this year.