Aeterna falls after perifosine misses in multiple myeloma

Shares of Aeterna Zentaris Inc. (TSX:AEZ; NASDAQ:AEZS) fell on Monday after the company discontinued development of perifosine for multiple myeloma (MM). The move came after interim Phase III data showed perifosine plus Velcade bortezomib and dexamethasone was unlikely to meet the primary endpoint of improving progression-free survival (PFS) vs. placebo plus Velcade and dexamethasone. Aeterna was off C$0.58 (22%) to C$2.09 on Monday. On NASDAQ, the company was off $0.59 (23%) to $2.03 (see BioCentury, June 18, 2012).

Perifosine is in Phase II testing to treat renal cell carcinoma (RCC), breast cancer and sarcoma. The compound is an alkylphosphocholine modulator of the phosphoinositide 3-kinase (PI3K)/protein kinase B (PKB; AKT) and other signal transduction pathways. ...