Wider Implications After OncoMed's Failure
This article was originally published in Scrip
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The California biotech's Phase II pancreatic cancer candidate demcizumab failed to show benefit versus placebo for progression-free or overall survival. Meanwhile, Bayer decided not to exercise its options on a pair of Wnt pathway candidates under a 2010 collaboration with OncoMed.
Two companies in the biopharma space began trading publicly this week, one to pay off debt, the other to fund an early-stage pipeline.
The biotech is shifting gears after clinical hold on its lead drug was unlikely to be lifted, but the early-stage candidate that it's placing its hopes on is raising red flags for analysts and investors.