AbbVie not seeking accelerated approval of SCLC candidate

AbbVie Inc. (NYSE:ABBV) said Thursday that it will not seek accelerated approval from FDA for Rova-T rovalpituzumab tesirine as third-line treatment of relapsed or refractory small cell lung cancer. The company based its decision on the "magnitude of effect across multiple parameters" in the open-label, single-arm Phase II TRINITY trial of Rova-T in the third-line indication.

On Thursday, AbbVie lost $14.35 (13%) to $98.10, shedding over $22 billion in market cap...