Biotech Implosion: Genitope
by Jon C. Ogg
24/7 Wall St.
Genitope Corp. (NASDAQ:GTOP) probably just made sure the workers' kids won't be getting much more than coal this year. Genitope announced that its pivotal Phase 3 clinical trial examining the use of MyVax® personalized immunotherapy in previously untreated follicular B-cell non-Hodgkin’s lymphoma patients did not meet its primary endpoint.
In the primary analysis, there was no statistically significant difference in the progression-free survival (PFS) of patients receiving MyVax® personalized immunotherapy compared to patients receiving the control substance. Importantly, analysis of a pre-specified endpoint in the MyVax® personalized immunotherapy arm showed a highly statistically significant difference in PFS between patients who mounted a positive immune response to the tumor-specific target and those who did not.
This fell 38% to $2.59 in regular trading as word of the trials came out at the end of the day. But now shares are down 60% to roughly $1.00 in after-hours trading. This had a prior 52-week trading range of $3.00 to $4.93.
continue reading article at 247WallSt.com
24/7 Wall St. is a regular contributor to BioHealth Investor
__________________
24/7 Wall St.
Genitope Corp. (NASDAQ:GTOP) probably just made sure the workers' kids won't be getting much more than coal this year. Genitope announced that its pivotal Phase 3 clinical trial examining the use of MyVax® personalized immunotherapy in previously untreated follicular B-cell non-Hodgkin’s lymphoma patients did not meet its primary endpoint.
In the primary analysis, there was no statistically significant difference in the progression-free survival (PFS) of patients receiving MyVax® personalized immunotherapy compared to patients receiving the control substance. Importantly, analysis of a pre-specified endpoint in the MyVax® personalized immunotherapy arm showed a highly statistically significant difference in PFS between patients who mounted a positive immune response to the tumor-specific target and those who did not.
This fell 38% to $2.59 in regular trading as word of the trials came out at the end of the day. But now shares are down 60% to roughly $1.00 in after-hours trading. This had a prior 52-week trading range of $3.00 to $4.93.
continue reading article at 247WallSt.com
24/7 Wall St. is a regular contributor to BioHealth Investor
__________________
posted by Nico at
5:00 PM
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