OncoMed sinks after tarextumab futility analysis
OncoMed Pharmaceuticals Inc. (NASDAQ:OMED) lost $7.53 (43%) to $10.04 on Monday, shedding $226.7 million in market cap after it said an independent DSMB said tarextumab ( OMP-59R5) was unlikely to meet the primary overall survival (OS) endpoint in the Phase II portion of a trial of tarextumab plus Abraxane nab-paclitaxel plus gemcitabine as first-line therapy for advanced pancreatic cancer.
The DSMB conducted a pre-planned interim analysis of data from 172 patients treated through Jan. 6 in the double-blind, U.S. Phase Ib/II ALPINE trial. According to OncoMed, the DSMB said there was a "strong trend to lack of benefit in the treatment arm for overall survival (OS), regardless of Notch biomarker levels." Tarextumab is a human HuCAL mAb that binds to Notch 2 (NOTCH2) and NOTCH3. According to the company, increased NOTCH3 expression occurs in about 70% of pancreatic tumors and is associated with poor outcomes. ...