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Cytokinetics Cancer Drug Trial Fails

...Cytokinetics said the drug candidate did not show sufficient anti-tumor activity to proceed with the trial, which is being conducted by GlaxoSmithKline PLC.

Cytokinetics has already abandoned part of the study last September, because the drug, Ispinesib, did not demonstrate sufficient anti-tumor activity in patients with platinum-refractory cancer.

The company then said it was continuing the part of the study that focused on platinum-sensitive cancer.

GlaxoSmithKline is also conducting two Phase II trials, one to evaluate the drug as a second or third-line treatment for people with an advanced form of breast cancer, and one as a second-line treatment for advanced ovarian cancer.

Shares of Cytokinetics fell 44 cents, or 6.1 percent, to $6.75 in after-hours trading, having earlier closed at $7.19 on the Nasdaq.

The stock has traded between $4.61 and $9.75 over the past year.

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