Pfizer sinks following early breast cancer failure

1 June 2020

Shares in New York-based pharma giant Pfizer (NYSE: PFE) were down over 6% ahead of the opening bell in New York, following a trial miss in breast cancer.

A futility analysis from independent data monitors showed the Phase III PALLAS study of Ibrance (palbociclib) would likely miss its primary endpoint of invasive disease-free survival (iDFS).

While the therapy has been met with great success in breast cancer following its launch in 2015, the results could have unlocked access to a multi-billion-dollar opportunity treating patients earlier on in the disease.

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