After early findings were "not sufficient to meet efficacy," XBiotech discontinued its phase III study of its novel candidate antibody therapy for colorectal cancer.
Here's what you should know:
1. An Independent Data Monitoring Committee recommended the study's discontinuation after early findings didn't meet the threshold for continuation.
2. XBiotech President and CEO John Simard said in a release, "We are obviously disappointed with these findings."
3. XBiotech plans to analyze the data in the coming weeks in an attempt to better understand the endpoint data. The company will attempt to find a population that may have benefitted from the therapy.
4. Mr. Simard said in a release, "These findings today will not affect our efforts to pursue approval of the therapy based on the successful completion of the European study, which demonstrated control of debilitating symptoms in colorectal cancer."