Mast Therapeutics Inc (fka MSTX)

[J-RO]

Adventrx Cancer Drug Fails in Study
Monday October 1, 8:28 am ET
Adventrx Pharmaceuticals' Colon Cancer Drug Candidate Fails in Midstage Study


SAN DIEGO (AP) -- Biotechnology company Adventrx Pharmaceuticals Inc. said Monday its developing cancer treatment ANX-510, or CoFactor, failed to meet its goal in a midstage study.
The drug candidate was aimed at treating metastatic colorectal cancer, or colon cancer that has spread through either the bloodstream or lymph node system. In the Phase IIb clinical trial, It failed to meet its goal of reducing the proportion of patients reporting at least one hematological or gastrointestinal adverse event.

The company said it would further analyze the data to determine the future of the program.

Shares of Adventrx Pharmaceuticals plunged $1.17, or 46 percent, to $1.40 in premarket trading.

http://biz.yahoo.com/ap/071001/adventrx_pharmaceuticals_fda.html?.v=1