ChemoCentryx plummets on Phase III miss
ChemoCentryx Inc. (NASDAQ:CCXI) fell $3.37 (29%) to $8.32 on Friday after partner GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) said vercirnon ( GSK1605786) missed the primary and secondary endpoints in the Phase III SHIELD-1 trial to treat Crohn's disease. Specifically, vercirnon missed the primary endpoint of improving clinical response, defined as a reduction in Crohn's Disease Activity Index (CDAI) score of 100 points or more from baseline, and the secondary endpoint of improving clinical remission, defined as a CDAI score less than 150 points, at week 12 vs. placebo. GSK also said there was a trend for dose-dependent increases in overall adverse event rates with vercirnon.
The trial enrolled 608 patients with moderately to severely active CD who were not adequately controlled with conventional therapy, including tumor necrosis factor (TNF) alpha antagonists. Following the miss, GSK suspended the Phase III program, which comprises the SHIELD-2, SHIELD-3 and SHIELD-4 trials in addition to SHIELD-1. The pharma said it has not yet put a time frame on when it will make a decision on the program. ...