Vical slumps as Allovectin fails efficacy endpoints

US drug developer Vical (Nasdaq: VICL) saw its share plunge 60% to $1.42 in pre-market trading today (August 12), when the company revealed top-line results from a Phase III trial of Allovectin (velimogene aliplasmid), an investigational intratumoral cancer immunotherapy, in patients with metastatic melanoma which failed to demonstrate a statistically significant improvement versus first-line chemotherapy for either the primary endpoint of objective response rate at 24 weeks or more after randomization or the secondary endpoint of overall survival. Trial data will be further analyzed and detailed results will be submitted for publication.

"We are disappointed that the trial did not meet either the primary or secondary efficacy endpoints, even though we believe it was well-designed and well-executed," said Vijay Samant, president and chief executive of Vical, stating: "Based on this outcome, we are terminating the Allovectin program and focusing our resources on our infectious disease vaccine programs."

Continuing programs