Onyx Pharmaceuticals (ONXX) Lower After Nexavar Lung Cancer Study Ended

Shares of Onyx Pharmaceuticals Inc. (Nasdaq: ONXX) are 20% lower in pre-open trading after the company and partner announced that a Phase 3 trial evaluating Nexavar tablets in patients with non-small cell lung cancer was stopped early following a planned interim analysis, when the independent Data Monitoring Committee concluded that the study would not meet its primary endpoint of improved overall survival.

The companies said safety events were generally consistent with those previously reported. However, higher mortality was observed in the subset of patients with squamous cell carcinoma of the lung treated with sorafenib and carboplatin and paclitaxel versus those treated with carboplatin and paclitaxel alone.

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