(Reuters) - Drug developer Lpath Inc said its experimental drug to treat renal cell carcinoma, the most common form of kidney cancer, failed to meet its main goal in a mid-stage trial.
Lpath shares were down 39 percent in extended trading on Tuesday.
Patients taking the drug, Asonep, did not show significant survival rates without the disease worsening.
To meet the goal, at least 25 out of 39 patients needed to be surviving without the disease spreading after two months of treatment, the company said.
Data from the trial suggested that the drug may produce disease stability for up to 20 months in some low-risk patients, Lpath said.
The company will look at exploring with a partner other opportunities where the drug may have “the best chance of success”.
Out of 11 serious adverse events reported by patients, one, associated with constipation, was deemed to be related to Asonep.
Reporting by Amrutha Penumudi in Bengaluru; Editing by Joyjeet Das