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Synta Pharmaceuticals Corp Shares Fall After Cancer Drug Shows Less Benefit-Reuters

Monday, 28 Oct 2013 12:19pm EDT 

Reuters reported that shares of Synta Pharmaceuticals Corp fell on Monday after updated data from a mid-stage lung cancer trial showed that its drug had less clinical benefit than previously reported. The drug, ganetespib, reduced the chance of death in patients by 25%, lower than the 39% the company announced in June from an earlier analysis. The company presented the latest data over the weekend. The mid-stage study, Galaxy-1, was intended to identify patients most likely to benefit from the use of the drug. These patients have been enrolled in a late-stage study, testing ganetespib plus a chemotherapy drug, docetaxel, in those with advanced non-small cell lung cancer who had failed prior treatment. The company would limit recruitment from two Eastern European countries for the late-stage study. The company is also considering increasing enrollment in the trial to 700 or 800 patients, from the 500 patients it planned. Ganetespib is designed to inhibit a protein, which activates other proteins that play a role in the growth of cancer cells. The drug is also being tested in three studies as a treatment for breast cancer. 

Company Quote

-0.03 -0.74%
4:00pm EDT