Cyclacel plummets on futility analysis

Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC) dropped $2.15 (76%) to $0.68 after oral sapacitabine ( CYC682) failed a futility analysis of survival in a Phase III trial to treat acute myelogenous leukemia (AML).

The Data and Safety Monitoring Board (DSMB) of the SEAMLESS trial determined that statistically significant improvement in survival was unlikely after 247 deaths among 486 patients, including 173 (73%) within the first six months of treatment. Cyclacel said it would continue the trial to final analysis, which it expects to take place between 2H15 and 1H16. ...