Genitope Corp. revealed that cancer vaccine MyVax missed its primary endpoint in a pivotal Phase III trial, failing to improve progression-free survival compared to control in patients with follicular B-cell non-Hodgkin's lymphoma (NHL). (BioWorld Today)
Just nine months ago, shares of NPS Pharmaceuticals Inc. jumped 32 percent on positive Phase III data for Gattex (teduglutide) in short bowel syndrome. But on Monday those gains were erased – and then some – in the wake of concerns about three cancer cases in the Phase III follow-on trial.NPS' stock (NASDAQ:NPSP) fell $2.59, or 33.4 percent, to close Monday at $5.17.The concerns stemmed from data presented at the American College of Gastroenterology annual meeting, particularly an interim analysis of the open-label, follow-on STEPS 2 trial.
Days after winning FDA approval of Complera – a.k.a. Btripla, the follow-on to HIV blockbuster Atripla – Gilead Sciences Inc. unveiled the first Phase III data with the drug that's expected to blow them both out of the water: Quad.
While deal-makers remain optimistic about the pace of business development in the drug industry, external forces continue to drive a wedge between the valuation expectations of buyers and sellers – leading to an increase in contingent value rights, earn-outs and other structured mechanisms that can require some fancy negotiating footwork.
