The Xenova release (I was up too late to listen to the conference call..):
XENOVA AND QLT DISCONTINUE TARIQUIDAR PHASE III NSCLC TRIALS
Xenova and QLT will continue to explore the potential of tariquidar and carefully review the data in order to plan future development
Slough, UK, 13 May, 2003 - Xenova Group plc (NASDAQ NM: XNVA; London Stock Exchange: XEN) today announces that QLT Inc, (NASDAQ: QLTI; TSX: QLT) will stop the current Phase III trials of tariquidar as an adjunctive treatment for patients with non-small-cell-lung cancer (NSCLC). This decision follows a recommendation by the Independent Data Safety Monitoring Committee (DSMC), which completed the un-blinded interim review of the data for the two ongoing trials in this indication. The Phase IIb trial for tariquidar in chemorefractory breast cancer underway at MD Anderson, Texas is unaffected by this decision and this trial continues.
Members of QLT's clinical development team will now be un-blinded so that they have an opportunity to review all of the data and make informed decisions about plans for the future development of tariquidar. Data from the 304 patients already enrolled in this study represent the largest collection of efficacy and safety data from a randomized, placebo-controlled study of a third generation P-gp inhibitor and will offer valuable insight into the potential for tariquidar in this or other indications. It is QLT's intention to exploit the value of this database and make planning decisions for tariquidar after a thorough analysis of such data.
David Oxlade, Chief Executive Officer of Xenova, said:
'Xenova continues to believe that tariquidar has potential as an MDR modulator in cancer. We will explore further development opportunities once the un-blinded data from these NSCLC studies have been assessed. The Phase IIb trial at MD Anderson, in chemorefractory breast cancer continues.'
'Xenova has decided to take immediate steps to substantially reduce operating costs. This will include a reduction in headcount as well as further programme prioritisation. Going forward, Xenova will focus on its key clinical development programmes.'
Conference Call Information
Xenova will hold a conference call on Tuesday, 13 May at 08:30 a.m. BST. For details contact Claire Rowell at Financial Dynamics, telephone +44 (0) 20 7269 7285. |