Seattle Genetics Ends Trial Of Cancer Drug

Seattle Genetics Inc. (SGEN) ended a midstage trial, saying its cancer drug dacetuzumab didn't look likely to meet the main goal of the test.

The biotechnology company is collaborating on the drug's development with Genentech Inc. (DNA), which Roche Holding AG (RHHBY) bought earlier this year.

The company said a combination of drugs including dacetuzumab failed to show an adequate response rate versus the combination of drugs with a placebo. The drug, used in chemotherapy, was being tested in patients with a type of lymphoma, a cancer that starts in the lymph node immune system.

Seattle Genetics didn't specify exactly the primary endpoint except to say the study was unlikely to reach it. A spokesman wasn't immediately available for comment.

Chief Executive Clay Siegall said Seattle Genetics was disappointed by having to end the study but said the drug is being tested in patients with other types of cancer.

Results from an early-stage clinical trial evaluating dacetuzumab combined with Rituxan and Gemzar will be announced Dec. 7. In the cancelled trial, dacetuzumab and placebo combined with combination with Rituxan plus ifosfamide, carboplatin and etoposide chemotherapy.

Seattle Genetics shares closed Friday at $13.16 and weren't active premarket. The stock has more than doubled so far this year.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [e-mail]

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