Amgen says cancer treatment missed endpoint in late-stage clinical trial

Amgen on Tuesday said a study testing the use of its multiple myeloma treatment Kyprolis in combination with other agents missed its primary endpoint after failing to show superiority in progression-free survival.

Shares of Amgen AMGN, -1.12% fell 1.5% to $171 in premarket trading.

The Phase-3 trial tested an investigational regimen of Kyprolis, melphalan and prednisone versus a combination of Millennium Pharmaceuticals Inc.’s cancer drug Velcade with melphalan and prednisone. Premature data for overall survival, a secondary endpoint, wasn’t statistically significant, the company said.

Sean Harper, Amgen’s executive vice president of research and development, said the results “are disappointing” but the company will continue to explore Kyprolis in combination with other agents.

Published: Sept 27, 2016

By Joshua  Jamerson

Source: http://www.marketwatch.com/