BioCentury
ARTICLE | Financial News

Bavarian Nordic plummets on Phase III CRPC failure of ProstVac

September 15, 2017 11:13 PM UTC

Bavarian Nordic A/S (CSE:BAVA) sank DKK213.50 (48%) to DKK230, losing DKK6.8 billion ($1.1 billion) in market cap, on Friday after an IDMC recommended discontinuing for futility the Phase III PROSPECT trial of ProstVac rilimogene galvacirepvec to treat metastatic castration-resistant prostate cancer. The company announced the news Thursday after market close (see BioCentury Extra, Sept. 14).

An NCI-sponsored Phase I/II trial is evaluating ProstVac plus Opdivo nivolumab and/or Yervoy ipilimumab to treat prostate cancer. Bristol-Myers Squibb Co. (NYSE:BMY), which markets Opdivo and Yervoy, has an exclusive option to license and commercialize ProstVac under a 2015 deal (see BioCentury, March 9, 2015)...