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News > Companies
Genentech drug trial fails
June 16, 2000: 10:24 a.m. ET

Biotech company says heart attack drug wasn't effective in clinical tests
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NEW YORK (CNNfn) - Biotechnology firm Genentech Inc. disclosed Friday that its experimental heart attack drug failed a key clinical trial, putting the future of the proposed treatment in doubt.

Genentech (DNA: Research, Estimates) stock fell after the news was released, losing 4-1/4 to 133-1/4 in early trading.

graphicThe South San Francisco, Calif.-based company said that preliminary results show that the heart attack treatment, part of a class of biotech drugs called monoclonal antibodies, "did not meet its primary objectives" in a Phase II clinical study of 415 patients. Drugs must successfully complete three phases of human tests before they can be approved.

"We are disappointed in the preliminary analysis of the data," Genentech chief medical officer Susan D. Hellmann said. "However, we plan to meet with our investigators this summer to evaluate the implications of the data, and we remain committed to developing and improving treatments for patients experiencing heart attack."

Genentech's existing products include breast cancer drug Herceptin and Rituxan, a treatment for non-Hodgkin's lymphoma. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.