Novelos slides after lead drug fails Phase III lung cancer trial
This article was originally published in Scrip
Executive Summary
Novelos Therapeutics' lead product, NOV-002, a proprietary formulation of oxidised glutathione, has failed to improve overall survival in its pivotal Phase III trial in advanced non-small cell lung cancer (NSCLC), sending the company's shares sliding by 81% to close at $0.32 on February 24th.