Ouch for shareholders:
>>BURLINGAME, Calif., Dec 3, 2001 /PRNewswire via COMTEX/ -- Valentis, Inc. (Nasdaq: VLTS chart, msgs) reported today that the final analysis of the complete database from the Phase IIb clinical trial of it's IL-2 GeneMedicine(TM) product did not confirm the positive results seen in earlier interim analysis. The positive trend in the IL-2 treatment group compared to the chemotherapy alone control group was not sustained. The randomized clinical trial compared the combination of Valentis' IL-2 GeneMedicine(TM) product plus standard chemotherapy to standard chemotherapy alone, and was conducted in collaboration with Roche Holdings Ltd.
Tyler Martin, M.D., Valentis' Senior Vice President of Development explained, "We are disappointed that the positive trend seen in the interim analysis did not hold up on final analysis. We, and our partners at Roche, acknowledge the difficulty in demonstrating the effectiveness of immunotherapy in late-stage patients with advanced head and neck cancer. We believed, based on the interim data, that our unique approach would successfully overcome these challenges, but unfortunately, the final data did not confirm our expectations in this indication at this dose."<<
snip
Cheers, Tuck |
