Aduro Biotech stock halted after cancer drug trial misses primary endpoint
Aduro Biotech Inc. shares were halted in pre-market trade Monda, after the company said its pancreatic cancer drug missed the primary endpoint in a phase 2b clinical trial. The therapy being tested was CRS-207 both alone and in combination with GVAX Pancreas and was intended for patients with the cancer who had unsuccessfully undergone two prior metastatic therapies. Aduro's chairman, Stephen Isaacs, called the findings "unexpected" given "the divergence of these data from the results of our Phase 2a study." The company said the therapies are also being tested in an ongoing trial as a second-line treatment for patients with metastatic pancreatic cancer. Aduro shares have dropped 28.6% in the last three months, compared with a 8.0% rise in the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.