Aphton Corp.'s stock fell more than 45 percent Tuesday following news that its lead pancreatic cancer drug, Insegia, failed to meet the primary endpoint in a Phase III trial. (BioWorld Today)

Encysive Pharmaceuticals Inc. plans to file a new drug application in April based on pivotal Phase III data showing that Thelin met its primary endpoint in pulmonary arterial hypertension. (BioWorld Today)

While diquafosol tetrasodium failed to hit the primary endpoint in a Phase III trial for dry eye disease, Inspire Pharmaceuticals Inc. plans to file a new drug application amendment by the end of the second quarter. (BioWorld Today)

Axonyx Inc. lost almost two-thirds of its value on Monday with news that its lead Alzheimer's disease product, Phenserine, failed in a European Phase III trial. (BioWorld Today)