Ariad and GTx both see their share price plunge, each after updating on cancer drug clinical trials

Ariad Pharmaceutical's shares fell 8.7% to $3.58 on the news on May 25 that the independent Data Monitoring Committee of the Phase III SUCCEED trial has completed the second interim efficacy analysis as specified in the study protocol and has recommended that the randomized, placebo-controlled trial of oral ridaforolimus ' its lead compound that is under development with US drugs giant Merck & Co - in patients with metastatic sarcomas continue to its final analysis, without modification to the study protocol.

The DMC review comprised approximately two-thirds of the progression-free survival (PFS) events anticipated in the trial. PFS is the primary end-point of the trial. The safety and efficacy of oral ridaforolimus is being evaluated in approximately 650 patients with metastatic soft-tissue and bone sarcomas who have achieved a favorable response to chemotherapy. The DMC also stated that no new safety signals were noted. Full enrollment of the trial was reached in December 2009. The final analysis of PFS is expected in the second half of 2010.

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