GTx, Inc. (GTXI), Novartis AG (ADR) (NVS): This Week in Biotech

Remoxy has been rejected twice by the FDA with the original new drug application having been filed all the way back in June 2008. Not to count my chickens before they’re hatched, but I’m not going to hold my breath on the outcome of this new trial.

And then there was GTx, Inc. (NASDAQ:GTXI), this week’s disaster du jour. GTx, Inc. (NASDAQ:GTXI) shares fell a whopping 65% on the week after a late-stage study of its lead drug enobosarm failed to meet either of its primary endpoints of improving body mass and physical function for non-small cell lung cancer patients. GTx, Inc. (NASDAQ:GTXI) did note an improvement in lean body mass in one of its two trials, but it wasn’t enough to meet the primary endpoint of significance in either of its cancer-induced muscle wasting trials. With both of GTx, Inc. (NASDAQ:GTXI)’s lead drugs failing to be approved since 2010, GTx, Inc. (NASDAQ:GTXI)’s options are quickly running out.

The article This Week in Biotech originally appeared on Fool.com is written by Sean Williams.

Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.