Trubion: Pfizer Cancels Rheumatoid Arthritis Drug
From Associated Press (June 14, 2010)
NEW YORK -- Trubion Pharmaceuticals Inc. said Monday that its partner Pfizer Inc. is ending development of one experimental rheumatoid arthritis drug, but will keep studying a second therapy.
The Seattle company said Pfizer decided to stop development of the drug after it failed to meet its goal in a mid-stage clinical trial.
The study compared a drug designated TRU-015, or PF-05212374, to a placebo. Trubion said a combination of TRU-015 and methotrexate did not work better than the placebo and methotrexate in treating the disease.
Trubion said New York-based Pfizer will continue to develop a different rheumatoid arthritis drug called SBI-087 or PF-05230895.
On Monday, Trubion shares lost 6 cents to close at $3.66. Pfizer stock added 9 cents in extended trading to $15.42.
Posted: June 2010