Geron slides on trial discontinuation
Geron Corp. (NASDAQ:GERN) fell $1.62 (56%) to $1.28 on Monday after discontinuing a Phase II trial of imetelstat to treat locally recurrent or metastatic breast cancer following interim data that showed significantly shorter median progression-free survival in patients receiving imetelstat plus paclitaxel vs. paclitaxel alone (6.2 vs. 8 months, p=0.028). Geron attributed the data to lower doses of paclitaxel given to patients in the imetelstat/paclitaxel arm as a result of hematologic toxicity associated with the combination. The company estimated that imetelstat patients received about 85% of the amount of paclitaxel that control patients received.
Geron also said an interim analysis of a Phase II trial in non-small cell lung cancer patients who completed platinum-based chemotherapy showed that maintenance therapy with imetelstat improved median PFS vs. observation alone, but the difference was not significant (2.8 vs. 2.6 months). The company said it is unlikely that it will continue development of the telomerase inhibitor in breast cancer or NSCLC. Imetelstat is also in Phase II trials in essential thrombocythemia (ET) and multiple myeloma (MM), with top-line data expected next quarter. ...