Progen Pharmaceuticals Phase 2 trial fails
Shares of Progen Pharmaceuticals Ltd. (Nasdaq: PGLA) are sliding ahead of the bell after the biotechnology company announced that its Phase 2 trial administering 250mg of PI-88 in combination with the chemotherapeutic agent docetaxel to patients with advanced non small-cell lung cancer failed.
The small cap also said the trial failed with regard to time to progression, response rate, overall survival and quality of life measures.
Shares of Progen (PGLA) slipped $0.16, or 5.32%, to $2.85 ahead of the opening.
