GSK ending deal for Five Prime's FP-1039

Five Prime Therapeutics Inc. (NASDAQ:FPRX) said GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) gave it 180-day notice that it is terminating a 2011 deal and returning rights to FP-1039, which is in a Phase Ib trial for cancer. The update came in Five Prime's 4Q15 and 2015 earnings report.

In January, GSK and Five Prime stopped enrolling patients with squamous non-small cell lung cancer (NSCLC) in the open-label study, but continued to enroll mesothelioma patients. At the time, Five Prime said it hoped to reacquire rights to the compound, based on early mesothelioma data from the trial. ...