Antisoma, Novartis lung cancer drug fails in study

British cancer specialist Antisoma suffered a major setback to its drug pipeline on Monday when a late-stage trial of its lung cancer drug ASA404 was halted due to lack of efficacy, sending its shares plunging. ASA404 had been the company's biggest drug hope but Chief Executive Glyn Edwards told Reuters Antisoma was now unlikely to get any money from the drug, which was being developed in partnership with Novartis. Antisoma shares nosedived in early trade, losing 72 per cent of their value to hit an all-time low of 9 pence. An interim analysis of data from the study found that continuation would be futile, as there was little or no prospect of demonstrating a survival benefits in patients with previously untreated non-small cell lung cancer. "Novartis will undoubtedly do a full commercial appraisal based on this new evidence," Edwards said in an interview. "We have to say it's quite unlikely that we will get any future cash flows from this programme, although we weren't expecting anything in the short term." ASA404 was one of two key products from Antisoma in final Phase III trials, the other being leukaemia treatment AS1413, which Edwards said would remain the focus of investment, alongside another leukaemia drug in Phase II called AS1411.