Flurizan chronicles

Myriad Genetics (NASDAQ:MYGN) was up 10% on the week despite discontinuing development of its lead drug candidate. The stock fell 5% last Monday, when the company said it would discontinue development of Flurizan after the R-enantiomer of flurbiprofen missed the co-primary endpoints in a U.S. Phase III trial to treat mild Alzheimer’s disease (AD). Below are selected Flurizan-related events tracked against the company’s weekly stock price.

A. 12/8/00 - Myriad acquires from Encoreexclusive worldwide rights to E-7869, later renamed Flurizan tarenflurbil (MPC-7869). The compound was in Phase II testing for prostate cancer.B. 8/22/02 - Submits an IND for a Phase I trial in AD.C. 6/25/03 - Starts a U.K. and Canadian Phase II trial in about 200 patients with AD.D. 1/12/05 - Starts a U.S. Phase III trial in 750 patients with mild-to-moderate AD.E. 5/2/05 - Flurizan misses the three primary endpoints in a Phase II trial to treat mild-to- moderate AD, but shows a statistically significant effect on two of the three endpoints in mild AD. The company says it plans to continue its Phase III trial, focusing on mild AD.F. 8/2/05 - FDA approves an amended protocol for an ongoing U.S. Phase III trial, including an increase in enrollment to 1,600 from 750 patients and restricting enrollment to patients with mild AD.G. 7/19/06 - Starts an international Phase III trial in about 800 patients with AD.H. 1/8/07 - Says it does not plan to pursue further development of Flurizan in cancer after the compound missed the co-primary endpoints in a Phase II trial in prostate cancer...