Argos Therapeutics Cancer Treatment Study Recommended To Be Discontinued For Futility

By Tomi Kilgore Markets MarketWatch Pulse

Argos Therapeutics Inc. said an independent data monitoring committee recommended the Phase 3 trial of its treatment for renal cell carcinoma be "discontinued for futility," based on an interim data analysis. The committee said the study as unlikely to demonstrate a statistically significant improvement in overall survival, which is the study's primary endpoint. "We are extremely disappointed with these results, which included seventy-five percent of the targeted events needed to permit the primary analysis and assessment of overall survival in the study," said Argos Chief Executive Jeff Abbey. Argos said it will determine the next steps for the treatment after it discusses the data with the Food and Drug Administration. The stock, which is currently halted for news until 8:30 a.m. ET, has lost 12% over the past 12 months, while the S&P 500 has gained 7.4%.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.