Cancer drug developer, Cell Therapeutics (CTIC, financial info), has announced on November 3 2006 that it has suspended further enrollment of test patients for its lung cancer trial, called PIONEER, to analyze the differences in early cycle deaths. The company will need to study the differences of deaths between patients who were administered the trial drug, XYOTAX, and those who were given standard paclitaxel. In addition, as recommended by the Data Safety Monitoring Board, CTIC will continue its treatment for existing patients as per protocol.
CTIC has decided to amend the primary efficacy endpoint of the study according to the recommendations from the Food and Drug Administration (FDA). The survival results of women with normal estrogen levels will be the target and this protocol change will be submitted to the FDA for approval. This will likely delay the interim analysis results of PIONEER by at least six months.
CTIC traded down 1 cent (0.6 percent) on moderate volume on Friday November 3 2006.
Update November 7 2006 1006hrs:
The stock plunged 13 cents or 7.93% at the end of Monday November 6 2006.
Cell Therapeutics Signs Deal With Norvatis
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Cell Therapeutics Signs Financing Agreement
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