Disappointment is a fact of life for biotech investors, but GTX (GTXI) seems to have had a little more than its fair share in its short history. Not only did a once-promising prostate cancer drug (toremifene) fail its Phase 3 trial in 2010, but the company saw a once-promising partnership with Merck (MRK) go south when the company re-evaluated its clinical priorities (and cost-cutting plans) after acquiring Schering-Plough.
More recently, the company's plans to develop Capesaris as a prostate cancer treatment came into serious doubt as the FDA ordered a clinical hold due to high rates of venous thromboemobolic (VTE) events in the Capesaris patient groups. Given that these deep-vein blood clots can lead to fatal pulmonary embolisms, the FDA's concern is understandable and it's unclear now as to whether there is a valid way forward with this drug.
Read the full piece here:
If GTX Can Finally Catch A Break, The Rewards Look Worthwhile
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