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Cancer Pathways' target not validated by clinical results

Nature Biotechnology volume 17, page 220 (1999)Cite this article

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A preliminary evaluation of unblinded data from Cell Pathways' (Horsham, PA) pivotal phase III trial of its lead product, Exisulind, for cancer "suggests that the study did not achieve a statistically significant clinical response when compared to placebo," the company announced in February. The unfavorable results prompted a two-thirds drop in share price—correlating with a $435 million loss in valuation—in the first day of trading following the announcement. The fact that Cell Pathways, which has no track record, no corporate collaborator, no product on the market and only a single phase III clinical trial of its first product, was able to lose such an amount of money indicates the degree to which investors had bid up the value of its as-yet-unproven technology and how much that confidence has been dented.

Cell Pathways has no immediate explanation for the unexpected trial results and plans to analyze the data in detail in the coming weeks. The results are "totally inconsistent with all of the data previously generated in humans and in animal models and tissue culture," says Bob Towarnicki, CEO of Cell Pathways.

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  1. Mark Ratner is a freelance writer working in Cambridge, MA.

    • Mark Ratner
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  1. Mark Ratner
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Ratner, M. Cancer Pathways' target not validated by clinical results. Nat Biotechnol 17, 220 (1999). https://doi.org/10.1038/6956

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