Late-stage oncology drug development company Aeterna Zentaris Inc. (AEZS, AEZ.TO) said its Phase 3 trial evaluating perifosine in refractory advanced colorectal cancer patients failed to meet primary endpoint. Trading for Aeterna halted in early morning hours and shares are currently down more than 55 percent on the Nasdaq.
The focus of the X-PECT study was improvement of overall survival with perifosine in comparison with capecitabine + placebo. The trial involved 468 patients in 65 sites in the U.S and the study was conducted by the Company's North American licensee partner, Keryx Biopharmaceuticals, Inc. (KERX).
Aeterna Zentaris said it is very disappointed that the trial result. The company will continue further data analyses in collaboration with our licensee partners, in order to determine the future development strategy for perifosine.
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